GBP Trading Outlook (21-03-2016)

GBP/USD Intraday: the bias remains bullish.

Pivot: 1.4400

Our preference: long positions above 1.4400 with targets @ 1.4520 & 1.4610 in extension.

Alternative scenario: below 1.4400 look for further downside with 1.4330 & 1.4290 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:
1.4665 ***
1.4610 ***
1.4520 ***
1.4463 Last
1.4400 ***
1.4330 ***
1.4290 **

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