Technical Analysis for GBP

Technical Analysis for GBP

The pair moved back to the upside but remained limited below 1.6265 levels keeping the bearish harmonic Crab Pattern available forcing us to remain intraday neutral. We need to see how the pair would react at the current levels in order to confirm or negate the Crab Pattern in which targets weren’t achieved yet. Linear Regression Indicators are still positive but momentum indicators tend to be negative.

Support: 1.6190, 1.6170, 1.6120, 1.6100, 1.6075
Resistance: 1.6225, 1.6270, 1.6305, 1.6340, 1.6370

Recommendation Based on the above, we prefer to remain neutral today