Attached is the 1H chart of GBPUSD. As pointed out yesterday, it was a good day for GU longs and it did manage to break through some major resistance. Today, we can see support at 1.4750 which has been proving to be strong support so far. On the upside, we should see the price moving to 1.4820 where it should face some strong resistance as it has been yesterdays high and a previous high as well.
If it does manage to break it, then there should be a clear ride to 1.4850 where it should face some minor resistance and then 1.49 where there should be some major resistance to price moving up further. I doubt whether price will move up further but if it does, then the next targets would be 1.4950 and then 1.5.
On the downside, there should be strong support at 1.4730 and then if it does get broken, it should go down to the next strong support at 1.4648 and then 1.4526.
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