By CountingPips.com
GBP/USD: The British pound also rebounded against the US dollar last week and closed back above the major 1.5000 price level. Looking forward to this week, the 1.5000 price level will look to provide near-term support for this pair while near-term resistance will likely show up around the 1.5150 — 1.5125 area. Look for further overhead resistance into the 1.5250 level. Notice the MACD indicator is showing a bullish divergence in momentum compared to price action, a potential bullish indicator for the GBP.
Written by Zac Storella, CountingPips Forex Blog & Currency Pair Technical Analysis
