OANDA:GBPUSD   British Pound / U.S. Dollar

After a fall the counter GBPUSD started moving upwards from 25th March and form an ascending channel . The price is still in the ascending channel and today the counter hit the bottom line of the channel at the price 1.3771. The formation of the ascending channel indicates the bullish trend of the counter and the trend is expected to continue further. The buying mode of the market may pull the price even more upwards. The stochastic indicator curves are at level 20 which gives additional support to the description.

The major levels for this counter are

R2 –1.3965
R1 –1.3894
PP –1.3848
S1 –1.3777
S2 –1.3731