Sterling settles above key support – Technical Analysis – 20-10-2015

The GBPUSD pair succeed to rise recently and surpass 1.5462 resistance, which represents 50% Fibonacci for the bearish wave from 1.5818 to 1.5106, settling above it until now, with more positive pressure coming from the moving average 50, besides positive signals by the relative strength indexes.

Therefore, as long as the price is above 1.5462, we expect rising in the coming periods, targeting 1.5545 resistance that represents 61.8% Fibonacci level.