GBP/USD has shown a massive jump after breaking major resistance of 1.3657 high made on Sep 20th 2017. The pair jumped almost 400 pips in the year of 2018 and still in bullish trend. The pair hits high of 1.43287 and is …
GBP/USD has shown a massive jump after breaking major resistance of 1.3657 high made on Sep 20th 2017. The pair jumped almost 400 pips in the year of 2018 and still in bullish trend. The pair hits high of 1.43287 and is currently trading around 1.42670.
The pair is in overbought zone with RSI at 84 and this confirms minor weakness. The near term major support is around 1.3990 (5- day MA) and any break below will drag the pair to next level till 1.3939 (7- day MA)/1.3860 (10- day MA). Short term weakness only below 1.3800.
On the higher side, major resistance is around 1.4400 and any break above will take the pair till 1.4500.
It is good to sell on rallies around 1.4350 with SL around 1.4450 for the TP of 1.3980/1.3930.
