GBP Trading Outlook (24-03-2016)

GBP/USD Intraday: the downside prevails.

Pivot: 1.4200

Our preference: short positions below 1.4200 with targets @ 1.4050 & 1.3985 in extension.

Alternative scenario: above 1.4200 look for further upside with 1.4290 & 1.4360 as targets.

Comment: as long as the resistance at 1.4200 is not surpassed, the risk of the break below 1.4050 remains high.

Supports and resistances:
1.4360 ***
1.4290 ***
1.4200 ***
1.4112 Last
1.4050 ***
1.3985 **
1.3910 ***

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