Continuum_Economics

GBP/USD: Breaking higher

Long
FX:GBPUSD   British Pound / U.S. Dollar
Consolidation is giving way to a fresh break higher to 1.3900, as intraday studies track steadily higher. Both daily and weekly Tension Indicators remain positive, highlighting scope for further gains in the coming sessions, with a close above 1.3900 extending March 2020 gains towards historic congestion around 1.4000 and the 1.4030 weekly high of late April 2018. However, overbought daily stochastics are expected to prompt profit-taking around here. Meanwhile, support is at the 1.3866 weekly high of 10 February. A close beneath here, if seen, will turn sentiment Neutral and open up deeper losses towards 1.3800.
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