Daily Technical Forecast: GBPUSD (Mar 13)

The GBPUSD is showing short term positive signs. The pair completed a break above the short term resistance at 1.2195. Which is the high of the prior two daily candles. Despite this short term breakout, the overall bias remains bearish as the pair trades below 1.2350-1.2400 main resistance area.

Short term scenarios:
Bullish towards 1.2350 and 1.2400, as long as above 1.2130.

Short term key support and resistance
1.2195 1.2140 1.2100
1.2250 1.2300 1.2345