GBP/USD 1.4015 - 9 March

GBP/USD Open 1.4160 High 1.4297 Low 1.3976 Close 1.4077

In February Pound/Dollar could not continue the downward correction and developed a growth over 1.5100, and then sharply decreased. Last week the currency couple continued falling. On the weekly chart a divergence is formed, that bears correctional risk for the Cable for growth, while descending pressure is maintained till the Sterling is under 1.4950. On the daily chart the pressure on the British currency will be maintained while it is held under 1.4550, as the development of correctional growth was unsuccessful. Strengthening under 1.4000 will signal for decrease of the Pound. Strengthening above 1.4350 may provoke growth.

Technical resistance levels: 1.4185 1.4300 1.4450

Technical support levels: 1.3960 1.3810 1.3700

Trading range: 1.4025 - 1.3955

Trend: Downward

Sell at 1.4015 SL 1.4045 TP 1.3965

Today we made already +60 pips profit on GBP/USD from the following signal:

6:19 GMT Sell GBP/USD at 1.4105 SL 1.4131 TP 1.4045 TP reached at 7:07 GMT

Today so far +143, on Friday +93, as shown at