Sasha Singh
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GBP/USD Heading Higher

The GBP/USD surged after the Non-Farm Payroll data released today missed the economists' expectations. On the  GBP/USD 4 hour chart, we can see the buying pressure as the pair breaks out the upper trend line in the Bollinger bands. It seems like the pair found resistance at 1.6396 which was earlier acting as a support. 

On the stochastic oscillator, we can see that the pair is heading towards the overbought zone. Whenever a pair crosses the upper trend line, it continues to follow uptrend for a while and then fall towards the middle trend line of the band. However if the pair breaks this resistance the next resistance pair may find at 1.6445.