Intraday trading recommendations for GBP/USD for September 19, 2014



The Pound has given a stellar performance in yesterday's trade closing above 20Dsma. In todays session, the cable held the 20Dsma support and again moved higher, breached the 2-month descending trend line. The pair formed a triangle, and just breached the upper end of that, a daily close above the upper end of the triangle makes further bullish movement in the near term. Today, as of now, the cable made a high at 1.6460 and trading at 1.6422. The pair has resistance between 1.6586-1.6590 levels. A weekly close above these, makes it more bullish in the short term. On the down side, it has support at 1.6380.

Support 1.6380 1.6245 1.6160
Resistance 1.6440 1.6590 1.6625


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