GBP Trading Outlook (09-02-2016)

GBP/USD Intraday: under pressure.

Pivot: 1.4485

Our preference: short positions below 1.4485 with targets @ 1.4350 & 1.4280 in extension.

Alternative scenario: above 1.4485 look for further upside with 1.4550 & 1.4610 as targets.

Comment: as long as 1.4485 is resistance, likely decline to 1.4350. The pair is showing a pattern of lower highs and lows.

Supports and resistances:
1.4610 **
1.4550 **
1.4485 **
1.4425 Last
1.4350 ***
1.4280 **
1.4225 ***

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