GBP usd weekly : STRONG RECOVERY RALLY IS COMING

gbp usd weekly technical analysis for 7 to 11 march 2016

gbp usd weekly technical analysis for 7 to 11 march 2016

Pound dollar pair this week closed with strong gains of almost 2.7%. After last week’s panic sell off we seen same momentum short covering and closing at high.   Gbp usd weekly chart, technical price patterns and support indicators pattern suggesting strong bullish move ahead. Which will be strong recovery rally for pound.   On downside gbp usd support zones are 1.4050 and 1.3820. On upside expect resistances as well as short term targets at 1.4350 and then 1.4550.

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Pramod Baviskar

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