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Forex pairs in this Article » GBP/USD (Barcelona) - The GBP/USD has opened the week on the upside following the big upside that the cross had last week. Data flow won’t begin in earnest until the US session on Monday.

GBP/USD momentum likely to continue until something comes along to change it

The GBP/USD train is likely to keep rolling until news or data comes out to alter the bullish momentum that has gathered since the Bernanke / Yellen news last week. Right now, the perception is that Britain’s economy is strong enough to have their bankers leaning hawkish while the US’s economy is weak enough to keep their bankers leaning dovish. That combo has the GBP/USD in full bull mode.

Technical outlook for GBP/USD

Technicians say that GBP/USD has moved above one resistance at the 11/6 intraday peak at 1.6112 (now first support) and now has in its sights the next possible upside ceiling at 1.6165. Additional resistance comes in at the closing high from 10/22 at 1.6233 and additional support at Thursday’s low of 1.5987.
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