GBP Trading Outlook (20-01-2016)
GBP/USD Intraday: under pressure.
Pivot: 1.423
Our preference: short positions below 1.423 with targets @ 1.4125 & 1.408 in extension.
Alternative scenario: above 1.423 look for further upside with 1.427 & 1.432 as targets.
Comment: as long as 1.423 is resistance, look for choppy price action with a bearish bias.
Supports and resistances:
1.432 ***
1.427 ***
1.423 ***
1.4173 Last
1.4125 *
1.408 *
1.4005 *