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 ***

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