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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)
