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GBP/USD: Major Levels 1.4070 and 1.4107

European Session
The GBP/USD pair has been moving upwards since Monday, the 29th of February 2016, with the bulls leading the price from as low as 1.3836 to as high as 1.4107.

On Wendsday, the pair price rose aggressively from 1.3914 up to 1.4107. In the event that the price is going to attempt to reach new highs and the price breaks above 1.4122, the pair could rise up to 01.4189 and 1.4249 respectively.

On the other hand, in the scenario where the currency pair encounters enough resistance and breaks below the price of 01.3995, the price could fall down to 1.3933 and 1.3896 in extension.



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.

 


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