GBP/USD looking to extend the rebound

GBP/USD looking to extend the rebound

The GBP/USD pair continues to stay alive in the bullish bias held since several weeks ago, gaining momentum in the 200 SMA at H1 chart. Currently, the demand zone between the 50% and 65% Fibo levels at 1.3383 and 1.3334 is offering a strong support for the Cable and once it breaks above November 30th highs, it’s expected to test the -23.6% Fibo level at 1.3625.

RSI indicator remains in the neutral territory, favoring to a consolidation in the short-term.

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