23 March 2016, GBP/USD
GBP/USD is currently trading with a bearish bias. During the previous trading day, pound traded short and even broke below support level 1.4270 as previously forecasted. The level 1.4270 should now act as a Resistance to the current upward pullback. Thus, during this intraday, we expect an upward pullback towards 1.4270 for us to go short with our target at 1.4065. A clear break above 1.4289 will mean looking for long positions with our target at 1.4410. Pound should be traded alongside EUR/USD. These pairs have a strong positive correlation of up to +0.95 and will likely move in the same direction during this intraday.
We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us