Technical Forecast for GBP/USD

GBPUSD beat 1.5850 to hit all our targets & over night has continued higher to 1.5958. The next big resistance is now at 1.5990/6010. If this target is reached today it should hold the topside as we start to look overbought. Exit longs up to 1.5590 & perhaps try shorts up to 1.6010 with stops above 1.6050.

 

Support at 1.5895/85 should hold the downside on any profit taking but below here look for the next support at 1.5840/30.