GBP/USD has thus far successfully tested the hourly support area around 1.4839 (see also the rising trendline). A decisive break of this zone of support is needed to suggest the end of the current bounce. Another hourly support lies at 1.4689 (19/03/2015 low). A resistance can be found at 1.4990, while a key resistance area stands between 1.5137 and 1.5166.

In the longer-term, the break of the strong support at 1.4814 opens the way for further medium-term weakness towards the strong support at 1.4231 (20/05/2010 low). Another strong support stands at 1.3503 (23/01/2009 low). A key resistance can be found at 1.5552 (26/02/2015 high).

Daily Technical Report