GBP/USD Analysis (2015.03.10)

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GBP/USD News and Analysis

A rebound effort Monday, but capped by down the trend lines (now 1.5130 and 1.5190) and chart resistance at 1.5221 to leaves downside pressures intact.

A more significant erosion last week, through 1.5197 for a more bearish shift to aim for lower targets into March.

For Today:

• We see a downside bias through 1.5052 for 1.5026 and 1.4989; break here aims for 1.4951.
• But above the trend line (1.5130) aims for the trend line at 1.5190 and opens risk up to 1.5221, which we would look to cap.

GBP/USD CHart

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