GBP/USD – 1.2775 is the new base
Two consecutive weekly close above 1.2775 (Dec high) levels coupled with the bullish RSI suggests the dips to/below 1.2775 are likely to be short lived.
Nevertheless, upside looks capped around 1.30 … the weekly 50-MA is still sloping downwards, which suggests more time could be spent in the range of 1.2775-1.30 before further upside unfolds.
Nevertheless, upside looks capped around 1.30 … the weekly 50-MA is still sloping downwards, which suggests more time could be spent in the range of 1.2775-1.30 before further upside unfolds.
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