GBPUSD technical analysis.

GBPUSD - Daily

Market (21 above 55) is flat. Price (5 above 8) is bullish. Stochastic is overbought. Resistance levels at MM3/1.31, MR1/1.32 and 1.325. Support levels at MPP/1.30, MM2/1.285 and 1.28. Price is in the Bears sell zone and as a bear on GBP I will look for a sell in that zone.

GBPUSD - H4

Market (21 above 55) is bullish. Price (5 above 8) is bullish. Stochastic is overbought. Resistance levels at WR2, 1.31/MM3 and WR2/1.315. Support levels at WM4/1.305, 1.30/MPP/WM3 and 1.295/WPP. Price has hit the bull profit zone WM4/WR2 and as per pivot point theory price might return to WPP. I will look to sell either at a double top or at a lower low.

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