• A strong bull candle for March bodes well for the pound

• Sterling off its recent 1.2992 high and beginning to pan out sideways

• The March 27 range provides the initial levels to watch, 1.2872 and 1.2992

• Daily momentum readings are marginally positive and RSI is rising

• Weekly action contained by the 1.2978 cloud top, on a closing basis

• * We remain short from 1.2880

• GBP/USD Trading Page
GBP/USD daily candle chart:

(Peter Stoneham is a Reuters market analyst. The views expressed are his own.)