Overview:
The weekly pivot point of the GBP/USD pair sets at the level of 1.4236 for that the support is found at the same level this week. According to the previous events, the price is still moving between 1.4236 and 1.4393. It also should be noted that a range about 157 pips is expected today. Consequently, the trend is calling for a bullish market above the level of 1.4236. Therefore, buy deals are recommended above 1.4236 with a target at 1.4393. Moreover, the resistance is seen at the level of 1.4393. If the trend manages to break the weekly resistance 1 at the level of 1.4393. Then, buy above 1.4393 again looking for further upside move with targets at 1.4428, 1.4475, and 1.4520 in order to test the major resistances this week. On the other hand, the descending movement will probably be lower than 1.4236 with initial targets at 1.4171 and 1.4109.Intraday technical levels:
R3: 1.4449 R2: 1.4402 R1: 1.4323 PP: 1.4276 S1: 1.4197 S2: 1.4150 S3: 1.4071