GBPUSD KEY SUPPORT AT 1.3960 LEVEL
The British pound starts the month of April with a slightly negative bias against the U.S dollar, after suffering heavy losses towards the end of last week. The GBPUSD pair needs to move price-action above the 1.4200 level to regain bullish momentum, negating last week’s bearish outside reversal candle. Sterling traders now look towards the release of the March Manufacturing PMI and ISM Manufacturing readings from the U.S economy.
The GBPUSD pair retain a short-term bearish bias whilst price-action trades below the 1.4087 level. Key support I found at the 1.3960 and 1.3890 levels.
If the GBPUSD pair moves above the 1.4087 level, key intraday resistance is found at the 1.4145 and 1.4200 levels.