GBP USD gets a negative signal – Analysis - 30/03/2015

The GBPUSD pair trading confined between the critical support at 1.4813 and the bearish channel’s resistance, and we still waiting for breaking the mentioned support to confirm opening the way towards the continuation of the main bearish trend, where our next targets located at 1.4645 and 1.4460.

In general, the stability below 1.5000 level makes us continue to prefer the bearish trend on the short term basis, pointing that stochastic provides negative signal on the four hours time frame that we wait to motivate the price to achieve the required break then heading towards the suggested targets.

Expected trading range for today is between: 1.4700 support and 1.4960 resistance.

Expected trend for today: Bearish