FxWirePro: GBP/USD gains some upside momentum but still bearish
GBP/USD rose in the earlier session to hit high at 1.4465 levels. However, the pair retreated back in quick succession as the pair ran out of strength to hit low at 1.4416. Currently the pair trading around 1.4435 levels…
GBP/USD rose in the earlier session to hit high at 1.4465 levels. However, the pair retreated back in quick succession as the pair ran out of strength to hit low at 1.4416.
Currently the pair trading around 1.4435 levels a short rise around 1.4460 levels should be viewed as selling opportunities as the resistance level at 1.4479 is set to hold the bulls from advancing further above and push the pair towards lower levels in the short term.
To the upside, the strong resistance can be seen at 1.4479, a break above this level would expose to cable to next resistance level at 1.4542.
To the downside immediate support can be seen at 1.4370, a break below will open the door towards next level at 1.4294.
