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    Daily analysis of GBP/USD for March 25, 2016 2016-03-25

    The pair had a corrective move during yesterday's session in favor of the overall bearish bias, after a support was found around the 1.4056 level. Now, GBP/USD can make a pullback to resume the decline, but the fact is that a breakout above the 1.4200 level will expose the Cable to make new highs on a short-term basis.

    GBPUSDH1.png

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    H1 chart's resistance levels: 1.4151 / 1.4200

    H1 chart's support levels: 1.4093 / 1.4056

    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 at 1.4151, take profit is at 1.4200 and stop loss is at 1.4100.


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