The GBP/USD has slipped back sharply, to trading in lower range, shedding more than 150pips to hit low at 1.4170 levels as the British pound weakened after better than expected Non-farm payrolls data. The cable is curren…
The GBP/USD has slipped back sharply, to trading in lower range, shedding more than 150pips to hit low at 1.4170 levels as the British pound weakened after better than expected Non-farm payrolls data.
The cable is currently trading around 1.4386 levels, persistence uncertainty on Britain’s exist from Eurozone is set to weigh on the currency pair in comings days.
Technically the RSI in the 4 hour chart is indicating downwards at 32, meanwhile the 55, 30 and 20 MA’s are indicating towards lower side. Overall the technical indicators are depicting further downtrend for this pair.
To the upside, the strong resistance can be seen at 1.4212, a break above this level would expose the cable to next resistance level at 1.4266.
To the downside immediate support can be seen at 1.4168, a break below at this level will open the door towards next level at 1.4107.
