The GBP/USD pair accelerates north ahead of the US opening, approaching the 1.4300 level, and shrugging off recent weakness, in spite of a weaker-than-expected Construction PMI figure for March, which printed 54.2, below the 54.3 expected. The 1 hour chart, shows that the price has accelerated after breaking above a bullish 20 SMA, whilst the technical indicators have accelerated their advances, and approach overbought territory. In the 4 hours chart, however, the price is below a bearish 20 SMA, currently around 1.4310, whilst the technical indicators have recovered within bearish territory, but lack enough momentum to confirm additional gains.
Support levels: 1.4260 1.4210 1.4170
Resistance levels: 1.4330 1.4370 1.4410