GBPUSD intraday technical analysis - 16/02/2018

GBPUSD

1.41343 / 1.41353

SUMMARY

Up

TREND

Up trend

SENTIMENT

Bearish

VOLATILITY

Medium

MARKET ANALYSIS

Upwards scenario: Loss of resistive barrier at 1.4153 (R1) is compulsory to resume upwards structure on the medium-term perspective. Higher resistive measures are placed today at 1.4208 (R2) and 1.4263 (R3) price levels.
Downwards scenario: On the other hand, possible penetration below the initial support level at 1.4086 (S1) would suggest price drop toward to next support at 1.4022 (S2) and then final target could be exposed at 1.3959 (S3) quite fast if the price keeps its downside momentum.

Resistance levels: 1.4153, 1.4208, 1.4263

Support levels: 1.4086, 1.4022, 1.3959