Support levels located at 1.5896, 1.5754, and 1.5502
Pivot Point is 1.6148
Resistance levels located at 1.6290, 1.6542, and 1.6684
The range for this week is shown in the GBP/USD weekly chart above. The range has shifted upward and has expanded. This week’s major announcements from the U.S. include Pending Home Sales on Monday Mar. 28th. The ADP Non-Farm Employment Change will also be released on Wednesday March 30th. The Unemployment Rate and the Non-Farm Employment Change will be announced by the Bureau of Labor Statistics on Friday April 1st.
Great Britain’s announcements this week include Current Account and the Final GDP (quarterly) on Tuesday Mar. 29th. Manufacturing PMI along with the Halifax House Price Index will be announced Friday April 1st.
The GBP/USD has been in a general upward trend for the past several weeks. Look for this trend to possibly continue during this week if the USD cannot gain on the JPY.