The pair is in a medium term uptrend, with bears managing to take control in the short term as the pair retraced some of last weeks gains. A continuation up is expected, with a close above 0.7235 opening up 0.7278 and 0.7315 respectively. Support can be found at 0.7205, bears will try close below and ultimately take the 0.71630 key support area before a big push for the 0.7110 support zone.
The pair is trending down on the H1 chart, with bulls taking a slight lead in todays trading. The stochastic is looking to form a cross down from overbought levels as we expect the 133.08 and 133.30 resistance levels to hold. A close below 132.82 will see bears drive for the 132.50 and 132.15 support areas. Should bulls manage to close above the 133.77 resistance level we would change our outlook on the pair to bullish.
The pair has found resistance on the 23.6 fibo level after a strong drive by GBPUSD bulls last week. Resistance is at 1.5240, 1.5300 and 1.5335. Support can be found at 1.5180, 1.5150 and 1.5125 respectively.
The pair is trading sideways between 1.0930 and 1.1000, with the range tightening as players begin to prepare for the FED rate announcement expected on Wednesday. Resistance can now be found at 1.0970, 1.1000 and 1.1025. Support can be found at 1.0950, 1.0930 and 1.0900. Sideways action is expected to continue and traders will be looking to buy support and sell resistance as the pair ranges.