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GBPUSD Continues to Signal Uptrend

(GBPUSD : 4 Hour Chart)

GBPUSD earlier declined from the kay resistance at 1.7050 but regained strength after finding support at 1.6950. Either the pair will continue to follow a sideways trend or it will surge. The current trend of consolidation between the resistance at 1.7050 and a rising support trend line is signaling that the pair will continue to follow uptrend by breaking the resistance. All moving averages on the chart are moving in the upward direction signaling a bullish trend. If the pair again find resistance from 1.7050 it will pull back to the previous support at 1.6950. The US data for Chicago PMI and Pending Home Sales coming out today at 9:45 AM EDT and 10:00 AM EDT respectively might also change the direction of the pair.