• GBP/USD pair declined sharply as fresh sell off resumed on Monday as investors were still worried that looming June referendum could see Britons vote to leave the European Union.
   
• Currently the pair is trading around 1.4472 levels , it is set to decline further towards 1.4400 and later 1.4350 level.
   
• To the upside, the strong resistance can be seen at 1.4494, a break above this level would expose the cable to next resistance level at 1.4533 levels.
   
• To the downside strong support can be seen at 1.4456, a break below at this level will open the door towards next level at 1.4409.
  
  Resistance Levels
  
  R1:  1.4494 (50 % Retracement level)      
  
  R2: 1.4533 (61.8 % Retracement level)   
  
  R3: 1.4547 (Daily high)
  
  Support Levels
  
  S1: 1.4456 (38.2 % Retracement level)   
  
  S2: 1.4409 (23.6 % Retracement level)
  
  S3: 1.4377 (May 9th lows)