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GBP/USD Outlook

RBS notes:

Most comments remain relevant from the last week with additional confidence gained amid rejection of the area below 1.54 and a potential weekly bullish engulfing candlestick this week (a weekly close above 1.5551 is required). Also if the price closes the bearish gap of 1.5575, that would be a very strong bullish signal. 

We remain long from the 1.5288 reference level towards the targets of 1.6070 and 1.6433 amid inverted Head and Shoulders pattern and positive MACD. 

We keep the same view of targeting 1.6070 onto 1.6430 stopping on a close below 1.5100.


SUP: 1.5215 1.5142 1.4981
RES: 1.5856 1.6076 1.6433

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