GBPUSD: Pick up in the daily stochastic pleads for new rallies - Natixis

Micaella Feldstein, Research Analyst at Natixis, suggests that the pick up in the daily stochastic pleads for new rallies for GBPUSD over the coming sessions towards 1.26 (daily Bollinger upper band), 1.2630 (Daily parabolic) and the 1.2684-1.2703 resistances (weekly Bollinger upper band).

Key Quotes

“A break of these last barriers would reduce the downside threats of a dip back to 1.23921.2405 (daily Bollinger lower band) and would pave the way for a pronounced rally to 1.27501.2770 (9 month moving average) ahead of 1.2865-1.2880 (Fibonacci extensions). The supports are at 1.2392-1.2405, at 1.2340, at 1.2260 and at 1.2185.”