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Technical analysis of GBP/USD for August 25, 2015

Following my previous analysis, GBP/USD started moving higher. The pair is yet to hit the R1 resistance area which could happen in a short period of time.

While no signs of reversal are presented, consider buying GBP/USD today at the current levels. The target area is between 1.5851 and 1.59 - psychological resistance. It seems reasonable to take 1.57 as a psychological support that also could be used for the stop loss.

Support: 1.5688

Resistance: 1.5851, 1.5900

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