gbp usd weekly : weak recovery rally resistance 1.4650

gbp usd forex technical analysis for 21 to 25 march 2016

gbp usd forex technical analysis for 21 to 25 march 2016

Pound dollar forex pair this week closed with gain. This was third gaining week for gbp against weak us dollar. This week we saw high volatile moves in this pair.   On weekly chart, price trend is down but momentum is bullish on account of recovery phase. On upside 1.4650 is next average resistance as well as target zones for this recovery move. On downside 1.42 and 1.3830 are support levels as well as stop loss zones for buyers.

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