GBP/USD: Weekly Technical Analysis For March 7-11, 2016

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GBP/USD’s rebound from 1.3834 low extended higher last week. Initial bias stays on the upside with 21 and 55 EMA crossed northward on the 4 hours time-frame. SSRC oscillator is also signalling a bullish momentum is expected in the pair. Initial bias stays on the upside for 61.8% retracement of 1.4667 to 1.3835 at 1.4349. We’ll look for topping signal again above there. On the downside, below 1.4017 minor support will turn bias to the downside for 1.3834 low.


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