$GBPUSD

GBPUSD closed sharply lower on Friday ending a three-day short covering rally off Monday's low. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. 

Stochastics and the RSI are oversold and are turning bullish hinting that a low might be in
or is near. Closes above the 20-day moving average crossing at 1.5927 are needed to confirm that a short-term low has been posted. If March renews this year's decline, the 75% retracement level of 2012's rally crossing at 1.5598 is the next downside target. 

First resistance is today's high crossing at 1.5874.
Second resistance the 20-day moving average crossing at 1.5927. 

First support is Monday's low crossing at 1.5670. 

Second support is the 75% retracement level of 2012's rally crossing at 1.5598.