Now lets move on to the GBPUSD. This pair had a lot of action yesterday and the annuncement of the budget caused it to breakdown to its strong support level at 1.4404. Then it made a jump back up and went up and up to its resistance level at 1.4526 and has since meandered down to 1.4460 during the late US and Asian session. Like the other pairs, it is in consolidation right now and 1.4400 should continue to serve as strong support.
On the upside 1.45 and yesterday's high of 1.4530 should serve as strong resistance followed by 1.4650. On the downside, as specified, 1.44 should serve as strong support followed by 1.43. With lot of news being released today, this should be interesting.
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