Technical Analysis for GBPUSD - testing important Gann level
3 April 2015, 09:11
- GBP/USD has come under modest pressure after repeated
failures late last month at the 38% retracement of the February-March
decline
- Our near-term trend bias is lower in Cable while below 1.5000
- A close below 1.4760 is needed to confirm that a new leg lower in the pound is underway
- A very minor turn window is eyed later this week
- A close over 1.5000 would turn us positive on GBP/USD
GBP/USD Strategy: Like the short side while under 1.5000
| Instrument | Support 2 | Support 1 | Spot | Resistance 1 | Resistance 2 |
|---|
| GBP/USD |
1.4635 |
1.4760 |
1.4765 |
1.4875 |
1.5000 |
