GBPUSD 2016-03-31

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GBP/USD

1.4385

As we mentioned yesterday, market in potential Head & Shoulder formation managed to hit the market with first drop so far toward 1.4325 level where market back to advance from intraday uptrend level.

market still have room to advance to re-test resistance zone 1.4410-40 while as long as market holding below 1.4515 this H&S formation may drive market lower toward 1.3950 zone, where below 1.4325 expect farther drop along with this formation

above 1.4515 market may enter new advance channel that may lead higher to test 1.4600-70 zone

  Support Resistence
Level 1 1.4325 1.4410-40
Level 2 1.4260 1.4515
Level 3 1.4195 1.4600-70

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