GBP/USD - Had a Strong Rally and Ended the Day to the Upside - 11/29/2017 (GMT)

The cable had a strong rally during yesterday’s trading period as it had a strong spike to the downside before ending the day higher. The GBP/USD pair bounced off the 1.3220 support level and is currently recording a new two-month high near 1.3400 significant level. The next level to focus on is the 1.3450 barrier. On the daily chart, the three simple moving averages (50, 100 and 200) are sloping slightly to the upside signaling for more rising on price. The MACD oscillator is moving higher above both the trigger and zero lines, while the RSI indicator is pointing to the upside with strong momentum and is approaching the overbought area.