GBP Trading Outlook (01-02-2016)

GBP/USD ST: the downside prevails

Pivot: 1.495

Our preference: short positions below 1.495 with targets @ 1.395 & 1.363 in extension.

Alternative scenario: above 1.495 look for further upside with 1.524 & 1.566 as targets.

Comment: the RSI is capped by a declining trend line.

Supports and resistances:
1.566 ***
1.524 ***
1.495 ***
1.424 Last
1.395 ***
1.363 **
1.318 **

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