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.
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