Forex technical analysis for GBPUSD 30 March 2015
The pound looked to be holding its own last week but the failure to make any inroads into 1.5000 following the FOMC pop has naturally seen the pound edge lower
GBPUSD daily chart
The pound tried it's best to cement itself above the 1.4845 level which has been pivotal of late and if we close below today then we'll likely see resistance coming in against it.
Support is seen at 1.4775, which is the old Jul 2013 low. It wasn't up to much looking ta the daily chart but the level holds some sway if you come down to the four and one hourly charts
Mild intraday resistance is now at 1.4800, 1.4820 and 1.4865/75, ahead of 1.4900 and 1.4710/20 is the next biggish level for support further down.
Without boring everyone to death each post, it's hard to gauge a true reflection of these moves given the time of month, so it's probably worth keeping positions smaller and fairly tight on the intraday levels and further out
