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    Daily analysis of GBP/USD for March 15, 2016 2016-03-15

    GBP/USD seems to be trading inside a corrective move towards the support level of 1.4267, where a rebound should happen to resume the bullish bias. The H1 chart is still pointing to the upside and the pair can perform a breakout above the level of 1.4396, in order to reach new highs. The MACD indicator is entering oversold territories, so it is highly possible to see further rebounds.

    1457995372_GBPUSDH1.png

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    H1 chart's resistance levels: 1.4333 / 1.4396

    H1 chart's support levels: 1.4267 / 1.4190

    Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is seen at 1.4333, take profit is at 1.4396 and stop loss is at 1.4271.


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