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    GBP/USD Technical Analysis: Sterling to Strengthen above 1.4235

    by: Reserveex

    GBP to Trade Today within 1.4150-1.4220 Zone

    The GBP/USD pair has been on the rise, and analysts foresee that its upside will continue strengthening above the 1.4235 area. 

    Last week, analysts predicted that the British pound would touch the 1.4235 mark. The currency did not live up to their expectations, however, and fluctuated within the 1.4137 and 1.4205 zone, stabilizing afterwards below analysts’ indicated mark at 1.4185. Presently, momentum indicators are flat. GBP is thought to consolidate today within the range of 1.4150 and 1.4220.

    In the long run, the British pound is still foreseen to enjoy an upward movement. But analysts emphasize that it has to close above 1.4235 before a sustained march forward can be expected. If, however, GBP breaks the 1.411 level, this will indicate that the upside risk has disappeared. The next resistance levels that investors should closely watch appear above 1.4235 at 1.4265 and 1.4290.  

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