FXWIREPRO: GBP/USD Intraday Upside Momentum Strong After Fed Yellen Comments

FXWIREPRO: GBP/USD Intraday Upside Momentum Strong After Fed Yellen Comments

29 March 2016, 20:45
Roberto Jacobs
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FXWIREPRO: GBP/USD Intraday Upside Momentum Strong After Fed Yellen Comments

  • The pair has found renewed bullish momentum after Fed yellen comments, breaking strong resistance at 1.4269 and is moving upwards to test next resistance level at 1.4377. 
  • The pair is trading around 1.4370 levels and it is expected advance further towards 1.4450 and 1.4470 levels in the short term. 
  • Short pullback around 1.4290 should be taken as buying opportunities, as the British pound is stronger against the US dollar in intraday trading. 
  • To the upside, the strong resistance can be seen at 1.4377, a break above this level would take it to upside to next resistance level at 1.4435. 
  • To the downside immediate support can be seen at 1.4300, a break below this level will take the pair to next level at 1.4269 levels. Resistance Levels R1: 1.4377 (38.2 % Retracement Level) R2: 1.4435 (March 13th high) R3: 1.4485 (23.6 % Retracement Level) Support Levels S1: 1.4300 (Psychological levels) S2: 1.4269 (50 % Retracement Level) S3: 1.4177 (61.8 % Retracement Level)


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