The GBP/USD pair has been trending upwards since the 6th of November 2015, with the buyers leading the price from as low as 1.5027 to as high as 1.5186.
The pair advanced today from 1.5111 up to 1.5186, signalling that the bulls are exerting heavier pressures. In case that they succeed in pushing the price to break above the level of 1.5186, the pair could rise up to 1.5262 and 1.5316 in extension.
Conversely, in the scenario where the bears manage to overweigh bulls in trading volume and gain enough momentum, they could force the currency pair lower. In the event that the price breaks below 1.5125, the pair could travel down to 1.5105 and 1.5086 respectively.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.