21 March 2016, GBP/USD
GBP/USD is currently trading with a slight bearish bias. During the previous week ending 18th March 2016, Pound traded perfectly long as forecasted and even broke above a key resistant level 1.4411. We expect this level to now act as the support to the current bearish movement. A break below this level will mean we are headed short with our target at 1.427. A clear rebound from 1.4411 will confirm the anticipated upward rally with our ideal target at 1.408. Pound should be traded alongside NZD/USD, and GBP/JPY. These pairs have a strong positive correlation of up to +0.92 and will likely have a similar chart set up. Only buy or sell pound if the other pairs are giving similar signal.
Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us