GBP/USD
The GDP /USD pair has failed to close the Friday’s deals above its 200 day moving average. This is the third attempt made by the pair. Given that the pair remains above the weekly pivot point, the upward trend is likely to continue. And the moving average of 200 periods is passed through, the psychological level 1.6060 will be considered as next target.
It is necessary to be cautious with bullish positions. The situation will probably change abruptly and it is possible that the pair will move within a correction to the area 1.5712 S_1. The best position for setting Stop-loss is below the weekly pivot point around 1.5810.
The Momentum indicator provides bullish signals.
