FxWirePro: GBP/USD gains some upside momentum but still bearish
The GBP/USD pair fell as low as 1.4090 during the European afternoon, however the pair found some upside momentum following BOE's 9-0 vote to keep interest at record low of 0.50 percent. The ongoing weakness is set to co…
The GBP/USD pair fell as low as 1.4090 during the European afternoon, however the pair found some upside momentum following BOE's 9-0 vote to keep interest at record low of 0.50 percent.
The ongoing weakness is set to continue for this pair as the resistance level at 1.4261 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels.
To the upside, the strong resistance can be seen at 1.4200, a break above this level would expose the cable to next resistance level at 1.4261.
To the downside immediate support can be seen at 1.4100, a break below at this level will open the door towards next level at 1.4088.
