Upward movement at GBPUSD is in progress. In March situation is opposed that it was in February. In February we saw huge sell-off wave and in March price is continuing its rebound. Right now after two weeks of upward movement GBPUSD is starting below important resistance. At charts below you can see that 1.4400 level was important in the past. This level stopped declines in 2010. It is likely that till next Wednesday (nearest FOMC meeting) price won’t be very far from current level.

Further direction of movement will be indicated on Wednesday. If bulls break above 1.4400 level next targets will be at 1.4600, 1.4950. Otherwise nearest support is located at 1.4200.

Time-frame H4

GBPUSD_H4

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Time-frame W1

GBPUSD_W1

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