Technical Analysis – GBPUSD bullish bias intact
Posted on May 2, 2014 at 9:46 am GMTAfter range-trading between 1.6760 and 1.6850 for the past 2 weeks, GBPUSD finally broke out higher to reach 1.6917, a near 5-year high. The uptrend remains in place as the market continues to trade above the rising trendline from early April on the 4-hour chart. Also prices are above the positively aligned 20 and 50-period moving averages. A positive RSI and MACD adds to the bullish bias. Prices are currently consolidating just above 1.6872, as markets await for direction to [..]