GBP/USD on its way to resume the bullish bias

GBP/USD on its way to resume the bullish bias

GBP/USD is trading inside a bearish correction across the board and it managed to do a crossover between the 50 and the 200-hour moving average, which is helping to boost the bears to the downside. Currently, the pair is testing the 65% Fibonacci level at 1.4012, where a demand zone is established. If it does a rebound above such area, we can expect further gains toward the resistance level of 1.4243. However, if the 65% Fibo level gives up, then the next target would be the lows from March 16th.

RSI indicator stays in the negative territory, favoring to the bears.

GBPUSDH1.png

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