GBP/USD: Trading Recommendations

GBP/USD on Monday is traded near the 1.4100 mark, maintaining a trend towards further gains amid fundamental factors.

The growth targets for the pair are resistance levels at 1.4580 (the upper border of the ascending channel on the weekly chart and the Fibonacci level 50% of the correction to the decline of the GBP/USD pair in the wave that began in July 2014 near the level of 1.7200), 1.4800, 1.4830.

In an alternative scenario, and after the breakdown of the support level 1.3855, GBP/USD may decline to the support level 1.3800, 1.3700 and after their breakdown - to the levels 1.3630, 1.3500.

Support levels: 1.4006, 1.3970, 1.3922, 1.3900, 1.3855, 1.3680, 1.3630, 1.3500, 1.3270, 1.3210

Resistance levels: 1.4100, 1.4240, 1.4350, 1.4440, 1.4580, 1.4830

Trading recommendations

Sell Stop 1.4010. Stop-Loss 1.4120. Take-Profit 1.3970, 1.3922, 1.3900, 1.3855, 1.3680, 1.3630, 1.3500, 1.3270, 1.3210

Buy Stop 1.4120. Stop-Loss 1.4010. Take-Profit 1.4200, 1.4240, 1.4350, 1.4440, 1.4580, 1.4830

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