FxWirePro: GBP/USD tests hourly cloud top resistance at 1.5239

GBP/USD takes channel support, edges higher to hit session highs at 1.5241, 1.5260 next target in view.

• Daily stochs are at oversold, and on the verge of a bullish crossover, increasing chances of a short-term upside 
   
• GBP/USD is currently trading at 1.5226, with immediate resistance at 1.5241 (session high Sept 28)
• Supports on the downside are located at 1.5158 (Channel bottom), breaks below could see the pair at 1.5130 levels
• U.S. inflation figures gauged by the PCE due ahead of Personal Income/Spending, Pending Home Sales and the Dallas Fed Manufacturing Business Index in focus

 

Resistance Levels: 

R1: 1.5241 (session high Sept 28)

R2: 1.5331 (200 DMA)

R3: 5.5351 (20 DMA)

Support Levels:

S1: 1.5158 (Channel bottom)

S2: 1.5134 (Sept 25 lows)

S3: 1.5088 (May 5 lows)