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FxWirePro: GBP/USD faces strong resistance around 1.4600, good to sell on rallies

Monday, February 8, 2016 8:40 AM UTC

Major resistance - 1.4550 (20 day MA)
Cable has recovered after making a low of 1.4450. It is currently trading around 1.45265. Short term trend is slightly weak as long as resistance 1.4600 holds.
Any break above 1.4600 will take the pair to next level 1.4650/1.4670. Overall bearish invalidation only above 1.4670.
On the lower side major support is around 1.4450 and break below targets 1.4400/1.4380.

It is good to sell on rallies around 1.4560 with SL around 1.4600 for the TP of 1.4800/1.4450

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FxWirePro: GBP/USD faces strong resistance around 1.4600, good to sell on rallies

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