Intraday Analysis from FXMarketAlerts.com
Receive FREE Weekly Strategies.Published at 17:30 (GMT) 16 Mar

GBP/USD now looks like it is trying to develop a potential double top pattern on the hourly chart. The extreme o/b hourly chart setup does suggest that cable is ready to correct lower soon. A solid break below 1.5150 would lead back to 1.5052/45. We see resistance at 1.5215/25. R.Z
R5: 1.5345 * 19 Feb low
R4: 1.5298 * 50% from 17 Feb
R3: 1.5250 25-6 Feb high volume
R2: 1.5225 intraday level
R1: 1.5215 * 12 Mar high
S1: 1.5052 Mon's close
S2: 1.5045 * 01 Mar pivot
S3: 1.5000 hourly chart break
S4: 1.4977 hourly low
S5: 1.4965 intraday level







