GBP/USD continues to move to the upside after pushing of channel resistance as mentioned in last week’s Fintwit analysis. Pound strength comes in the midst of a dollar rally as bullish U.S. fundamental data simultaneously gives impetus to the greenback. Yesterday’s confirmed candle close above the September swing low at 1.3412 could bring into consideration the 1.3500 psychological resistance handle.
Bullish divergence on the Relative Strength Index (RSI) may also be unfolding at this point as the oscillator points to slowing downside momentum – although still very much bearish.
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