On the daily chart, the pair is trading in the upper Bollinger Band. The price remains below the EMA130 and EMA65, both directed down. The RSI is growing towards its most recent resistance in the Bearish zone below the 60 mark. The Composite, however, is falling towards its longer MA.

GBP/USD: technical analysis


On the 4-hour chart, the pair is growing towards the upper MA of Bollinger Bands. The price remains just above its moving averages that are horizontal. The RSI is about to test its most recent resistance. The Composite shows similar dynamics. The pair is in consolidation.

GBP/USD: technical analysis

Key levels

Support levels: 1.4360 (active trade), 1.4242 (beginning of February lows), 1.4125 (January lows).

Resistance levels: 1.4668 (local highs), 1.4691 (March 2015 lows), 1.4818 (January highs).

Trading tips

Short positions can be opened from the level of 1.4345 with the target at 1.4245 and stop-loss at 1.4385. Validity – 2-3 days.

Long positions can be opened from the level of 1.4701 with the target at 1.4808 and stop-loss at 1.4658. Validity – 1-2 days.

Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.

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