FxWirePro: GBP/USD gains some upside momentum but still bearish
The GBP/USD slipped lower sharply in the late Asian session shedding more than 70pips as the pair was hurt by opinion poll showing the race between those wanting to stay in European union and those wanting to leave evenl…
The GBP/USD slipped lower sharply in the late Asian session shedding more than 70pips as the pair was hurt by opinion poll showing the race between those wanting to stay in European union and those wanting to leave evenly posed.
However, the pair rebounded sharply erasing earlier losses in the European session after finding support at 1.4371.
Currently the cable is trading around 1.4413 levels, it is set to decline further towards 1.4370 later towards 1.4340 levels in the short term.
To the upside, the strong resistance can be seen at 1.4478, a break above this level would expose to cable to next resistance level at 1.4515.
To the downside immediate support can be seen at 1.4410, a break below will open the door towards next level at 1.4344.
