GBP Trading Outlook (04-01-2016)

GBP/USD ST: the downside prevails

Pivot: 1.533

Our preference: short positions below 1.533 with targets @ 1.456 & 1.423 in extension.

Alternative scenario: above 1.533 look for further upside with 1.566 & 1.594 as targets.

Comment: the RSI is capped by a declining trend line.

Supports and resistances:
1.594 ***
1.566 ***
1.533 ***
1.4727 Last
1.456 ***
1.423 ***
1.395 **

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