GBP/USD set to attack the 1.3600 level

GBP/USD has been edging higher since finding support near 1.3500. As FXStreet’s Eren Sengezer notes, the pound eyes 1.3600 as the next bullish target.

Cable pierces near-term resistance at 1.3560

“GBP/USD is trading slightly above 1.3560, the Fibonacci 23.6% retracement level of the latest uptrend. If buyers manage to defend this level, the pair could push higher toward 1.3600 (psychological level) and 1.3620 (static level) afterwards.”

“On the downside, the 200-period SMA forms dynamic support at 1.3540 before 1.3520 (Fibonacci 38.2% retracement) and 1.3500 (psychological level, 50-period SMA, 100-period SMA, Fibonacci 50% retracement).”