After indecisive movement on Wednesday, yesterday GBPUSD had a significant bullish momentum. After break the 1.4577 resistance, the pair made further bullish move, topped at 1.4702 and closed at 1.4625. The Fibonacci retracement study below show that the pair is at critical phase, testing 23.6 % at 1.4718 area. Break above that area could trigger further strong bullish momentum. The bias remains bullish in nearest term and neutral in longer term. However, CCI in overbought area and heading down on 4h chart suggesting a potential downside pullback testing 1.4577 and 1.4500 support area. Eyes on US NFP data today.
GBPUSD Daily Supports and Resistances:
* S1= 1.4426
* S2= 1.4228
* S3= 1.4090
* R1= 1.4762
* R2= 1.4900
* R3= 1.5098
Good luck
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