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 ***