FX.co ★ Daily analysis of GBP/USD for March 31, 2016

There are no major changes in the overall outlook for the Cable, as it has been trading below the important high around the 1.4423 level. However, a pullback towards the support zone of 1.4317 is expected, where we can see a reaction higher to resume the bullish bias in a short-term basis.The MACD indicator is still at the neutral territory.

H1 chart's resistance levels: 1.4397 / 1.4423

H1 chart's support levels: 1.4317 / 1.4267

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.4397, take profit is at 1.4423 and stop loss is at 1.4372.