Psychological Support 1.5000 that corresponds to Fibonacci 78% pushed the GBP/USD pair strongly to the upside above 1.5130 (Fibonacci 61.8%) then above 1.5220 (Fibonacci 50%).
Last Friday, the pair had a brief consolidation around 1.5220 that came in line with the negative money flow sentiment at under -16%.
As expected, stabilization above 1.5220 brought bullish strength to the market opening the way up to 1.5300 then 1.5390 topping at 1.5398.
The ongoing technical pattern on the 4H seems very bullish with multiple ascending buttoms building pressure on resistance level 1.5400, on condition that the pair breaks above 1.5400 strongly.
Bearish retracement off 1.5400 is not excluded as well so that further restesting of price zone between 50% - 61.8% Fibonacci levels can take place.
Failure to consolidate above 1.5400 will bring the maket back to 1.5230 where price action should be watched.
