GBP Trading Outlook (20-04-2016)
GBP/USD Intraday: bullish bias above 1.4340
Pivot: 1.4340
Our preference: long positions above 1.4340 with targets @ 1.4425 & 1.4460 in extension.
Alternative scenario: below 1.4340 look for further downside with 1.4285 & 1.4240 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
1.4505 ***
1.4460 ***
1.4425 ***
1.4387 Last
1.4340 ***
1.4285 ***
1.4240 ***