GBPUSD: Faces Further Bullish Offensive On Rally

ANALYSIS | 12/10/2015 04:40:59 GMT

GBPUSD: Having rallied strongly to reverse its three-day weakness to close higher on Wednesday, GBPUSD faces further bullish offensive on rally. This development leaves more upside threats likely towards the 1.5200 level. Support lies at the 1.5100 level where a break will turn attention to the 1.5050 level. Further down, support lies at the 1.5000 level. Below here will set the stage for more weakness towards the 1.4950 level. Conversely, resistance stands at the 1.5200 levels with a turn above here allowing more strength to build up towards the 1.5250 level. Further out, resistance resides at the 1.5300 level followed by the 1.5350 level. On the whole, GBPUSD faces further bullish offensive on bull pressure on rally.

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