$GBPUSD

GBPUSD closed higher due to short covering on Friday as it extended this week's rebound. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. 

Stochastics and the RSI are oversold, diverging and are turning neutral to bullish hinting that
a low might be in or is near. Closes above the 20-day moving average crossing at 1.5837 are needed to confirm that a short-term low has been posted. If March extends this year's decline, the 75% retracement level of 2012's rally crossing at 1.5598 is the next downside target. 

First resistance is the 20-day moving average crossing at 1.5837. 

Second resistance is last Friday's high crossing at 1.5874. 

First support is Tuesday's low crossing at 1.5627. 

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