GBP/USD: Grinding Higher
GBP/USD has successfully tested its short-term up trendline on 28 August. The low on that day (i.e. 1.5755) is now a short-term support. Resistance is given by 1.5907 (61.8% retracement).
GBP/USD has broken to the upside out of its 2- month consolidation. Given the theoretical target at 1.6192 (based on projection), further GBP strength is expected.