GBP Trading Outlook (13-05-2016)

GBP/USD Intraday: bullish bias above 1.4430

Pivot: 1.4430

Our preference: long positions above 1.4430 with targets @ 1.4490 & 1.4530 in extension.

Alternative scenario: below 1.4430 look for further downside with 1.4405 & 1.4370 as targets.

Comment: a support base at 1.4430 has formed and has allowed for a temporary stabilisation.

Supports and resistances:
1.4555 ***
1.4530 ***
1.4490 ***
1.4445 Last
1.4430 ***
1.4405 **
1.4370 ***

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