GBP Trading Outlook (25-02-2016)

GBP/USD Intraday: the downside prevails.

Pivot: 1.4050

Our preference: short positions below 1.4050 with targets @ 1.3875 & 1.3820 in extension.

Alternative scenario: above 1.4050 look for further upside with 1.4170 & 1.4250 as targets.

Comment: a break below 1.3875 would trigger a drop towards 1.3820.

Supports and resistances:
1.4250 ***
1.4170 **
1.4050 ***
1.3925 Last
1.3875 ***
1.3820 **
1.3750 **

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