GBP/USD Price Action: Bullish But At Key Resistance Zone

 | Feb 26, 2015 02:53AM ET

GBP/USD – Bullish Momentum Continues Into Key Resistance Zone (D1 chart)
Continuing its bull run from our buy setup back at 1.5330/45, the GBP/USD (now almost 200 pips higher) has cleared the first hurdle and resistance at 1.5500. The pair is now in impulsive selling here and break back below 1.5500 would mean 1.5450 and 1.5345 would be under attack. However a break and close above here on a daily basis means the MT structure is now bullish as well.