GBP/USD - Posted a Bullish Rally Yesterday and Continues the Aggressive Risin - 10/13/2017 (GMT)

The most exciting rally on Thursday was on GBP/USD pair, which plummeted lower but it returned the losses and ended the day in green. The cable surged more than 1.6% this week so far and successfully surpassed the 50-day SMA. The level to have in mind is the next immediate resistance obstacle at 1.3340. Technical indicators on the daily chart are biased higher after entering positive territory. The stochastic oscillator is moving higher and entered the overbought zone. In addition, the Relative Strength Index (RSI) is following an upward path above 50, confirming the recent bullish attitude of the price.