GBP Trading Outlook (23-02-2016)

GBP/USD Intraday: under pressure.

Pivot: 1.4250

Our preference: short positions below 1.4250 with targets @ 1.4055 & 1.3990 in extension.

Alternative scenario: above 1.4250 look for further upside with 1.4340 & 1.4405 as targets.

Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

Supports and resistances:
1.4405 ***
1.4340 **
1.4250 ***
1.4149 Last
1.4055 **
1.3990 **
1.3920 **

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