As revenues are expected to expand this week, GBPUSD is still struggling with Brexit. Although the budget is not a major element for this pair, it may be influenced by the Bank of England’s comments about service sector.
GBPUSD has already touched the top at 1.44343 and have been fluctuating since then; therefore a rebound to 1.38350 is likely to happen. However, in terms of the price growth, the strong resistance would be at 1.4400 and looking from the downside, the support will be at 1.4240. The ascending channel has been punched in support and it may guide pair to change the trend to a bearish one but it needs to be confirmed and confirmation will be a little moving upward to test support line of channel as a resistance and then be bearish again.
https://fxglory.com/technical-analysis-of-gbpusd-dated-15-03-2016/
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