GBP/USD TECHNICAL ANALYSIS :

4 בנוב׳ 2015

We broke out of the trend line support coming in from Oct 1st on 28th of Oct.After a bottom formation there we headed higher and retested the 1.5494-1.5508 area.For Short term trend seems to be sideways and is still intact , support lies @ 1.5368.Currently trading above the 10 day EMA and slightly below 15 day SMA.Breakout of the trend line resistance from August 25th of this year seems to be the key factor here.If the pair continues to trade above it gains are likely to extend till 1.56 area