Technical Analysis for GBP

Technical Analysis for GBP

The pair is trading in a negative bias but above key support of the ascending channel shown on graph. Meanwhile, RSI is showing a negative bias and Linear Regression Indicators are covering the pair’s movement from the upside, which contradicts with stabilizing above the upside move support. Therefore, we prefer to remain neutral today to see how the pair will react at 1.5190 levels and key support of the bullish move.

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, 1.5080, 1.5035, 1.4990
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