GBP Trading Outlook (05-01-2016)
GBP/USD Intraday: the downside prevails.
Pivot: 1.4785
Our preference: short positions below 1.4785 with targets @ 1.4645 & 1.462 in extension.
Alternative scenario: above 1.4785 look for further upside with 1.4815 & 1.4845 as targets.
Comment: the RSI lacks upward momentum.
Supports and resistances:
1.4845 ***
1.4815 **
1.4785 ***
1.4707 Last
1.4645 ***
1.462 **
1.461 **