GBP/USD daily outlook

I think it's about to reverse.

The GBPUSD stays in a range on the daily chart between the 1.4100 level and the 1.4500.

The GBPUSD attempted to push higher yesterday topped at 1.4459 but whipsawed to the downside and hit 1.4347 earlier today. As you can see on my H1 chart below, this fact could produce another false breakout (above 1.4400) bearish scenario. The bias is bearish in nearest term testing 1.4280 – 1.4200 region. My major technical outlook remains neutral and I think 1.4400 – 1.4500 region is a good place to sell with a tight stop loss above 1.4500.

There's a shooting star candlestick on the daily time frame below the resistance at 1.4440, I think it will start falling again.

The GBPUSD was indecisive yesterday. Price attempted to push higher, slipped above 1.4400 but again, failed to stay consistently above 1.4400. The bias remains bearish in nearest term testing 1.4280 – 1.4200 region. My major technical outlook remains neutral but as long as stay below 1.4500 I prefer a bearish scenario at this phase.

Summary :
Target Level : 1.431
Target Period : 20 hours

Analysis :
Triangle has broken through the support line at 31-Mar-19:00 2016 GMT-2. Possible bearish price movement forecast for the next 20 hours towards 1.431.

Supporting Indicators :
Downward sloping Moving Average

Resistance Levels :
( B ) 1.4426Last resistance turning point of Triangle.

Support Levels
( A ) 1.4328Last support turning point of Triangle.



Chart date range :
27-Mar-19:00 GMT-2-> 01-Apr-04:00 GMT-2
Data interval : hour
RSI: 34 Candles
MA: 34 Candles

The pair bounced off 1.4170, but I think next week it will continue falling towards 1.4100.

Good upside move today.

True. I'm disappointed, there was no indication that it would reverse like this. I think it will contunue towards 1.4420.

On the longer term the GBPUSD keeps its bearish momentum, therefore the pair may try to go and visit the latest low at the 1.3833 level.

Hey guys...its now just above Support. Got some Pips taking advantage of the decline from Resistance...





It`ll either rally at Support or breakout from the Range for continued USD gains...


Duane
DRFXSWINGTRADING

The pair is currently testing the support at 1.4000. A breakout below that level could lead to a further drop to 1.3850 - 1.3800.

The GBPUSD had a bearish momentum yesterday bottomed at 1.4048. The bias is bearish in nearest term testing 1.4000 key support. A clear break and daily/weekly close below that area could trigger further bearish pressure testing 1.3900 – 1.3800 area next week. Immediate resistance is seen around 1.4100. A clear break above that area could lead price to neutral zone in nearest term testing 1.4175 area.

The pair is back at the resistance at 1.4120. If it breaks above that level we'll likely see it climb to 1.4200.

Resistance break

Buy GBPUSD at 1.4050 TP 1.4100-1.4200 SL 1.4030

Sell GBPUSD at 1.42970 tp at 1.42370

Hit TP. Lucky day.

No clear trend on the GBPUSD on the longer term. For now it may be wise to stay out of it.