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FxWirePro: GBP/USD faces strong resistance around 1.4580, good to sell on rallies

Major resistance - 1.4580 (trend line joining 1.5240 and 1.46633) Cable has retreated after making a high of 1.4578. It is currently trading around 1.4488. Short term is weak as long as resistance 1.4580 holds. On the lo…

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FxWirePro: GBP/USD faces strong resistance around 1.4580, good to sell on rallies
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  • Major resistance - 1.4580 (trend line joining 1.5240 and 1.46633)

  • Cable has retreated after making a high of 1.4578. It is currently trading around 1.4488. Short term is weak as long as resistance 1.4580 holds.

  • On the lower side major support is around 1.4450 and any break below targets 1.4400/1. weakness can be seen below 1.4320.

  • Any break above major resistance 1.4580 will take the pair till 1.4650/1.4680 level.

It is good to sell on rallies around 1.4485-90 with SL around 1.4580 for the TP of 1.4380/1.4320     

 

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