- GBP/USD has formed falling wedge pattern in four hour chart and the pair recovered slightly after showing a minor dip below cloud bottom. It is currently trading around 1.34100.
- The near term psychological support is around 1.3313 (21- day EMA) and any break below will drag the pair down till 1.3260/1.3200. Any break below 1.3400 will confirm minor bearishness.
- Market awaits BOE Governor Carney speech tomorrow for further direction.
- The pair on the higher side is facing major resistance around 1.3450 (55- 4H EMA) and any break above will take the pair to next level to 1.3500/1.3545 (61.8% fibo).
It is good to buy on dips around 1.3400-1.3405 with SL around 1.3350 for the TP of 1.3545.
