GBP Trading Outlook (26-02-2016)

GBP/USD Intraday: range.

Pivot: 1.3875

Our preference: long positions above 1.3875 with targets @ 1.3995 & 1.4050 in extension.

Alternative scenario: below 1.3875 look for further downside with 1.3820 & 1.3750 as targets.

Comment: the RSI lacks downward momentum.

Supports and resistances:
1.4120 **
1.4050 **
1.3995 ***
1.3956 Last
1.3875 ***
1.3820 **
1.3750 **

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