GBP Trading Outlook (16-05-2016)

Trade GBP/USD Intraday: the downside prevails.

Pivot: 1.4425

Our preference: short positions below 1.4425 with targets @ 1.4320 & 1.4285 in extension.

Alternative scenario: above 1.4425 look for further upside with 1.4465 & 1.4490 as targets.

Comment: the RSI is bearish and calls for further decline.

Supports and resistances:
1.4490 ***
1.4465 ***
1.4425 ***
1.4351 Last
1.4320 ***
1.4285 ***
1.4240 ***

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