Technical Analysis for GBP
The pair dropped below 1.5190 levels as shown on the graph but remained within the ascending channel and stabled above 1.5085, we notice that it’s also trading below Linear Regression Indicators but Stochastic attempts to achieve an upside reversal. Therefore, we prefer to remain neutral today to see if the pair will trade again above 1.5190 levels or fail and break the bullish key support.
The trading range for today is among key support at 1.5000 and key resistance at 1.5300.
The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 remains intact.
Support: 1.5145, 1.5100, 1.5085, 1.5035, 1.5000
Resistance: 1.5190, 1.5225, 1.5250, 1.5280, 1.5310
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move