Technical Analysis Daily

GBP/USD 1.4262 - 31 March

GBP/USD Open 1.4240 High 1.4340 Low 1.4110 Close 1.4262

Yesterday Pound/Dollar made a bottom at 1.4110, where the decreasing scenario was limited and the pair closed the day higher at 1.4262. On the 4 hour chart is seen how the downward movement was unable to break down the trend line support and the Cable rose. Short term signals are neutral. Valid break of trend line should bring further decreasing scenario with test of the 1.4025. Immediate resistance is seen at 1.4340, followed by 1.4470. The CCI indicator crossed up the 100 line on the 4 hour chart, signaling for potential upward pressure.

Technical resistance levels: 1.4340 1.4485 1.4630
Technical support levels: 1.4110 1.4005 1.3870

Trading range: 1.4250 - 1.4325
Trend: Upward
Buy at 1.4262 SL 1.4232 TP 1.4312

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