• The GBP/USD pair opened with gap and fell sharply lower on Monday, after poll showed those campaigning for Britain to leave the European Union in a referendum on June 23rd were gaining support, causing confusion among investors.
   
• The ongoing weakness is set to continue for this pair as the resistance level at 1.4559 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 1.4501, a break above this level would expose the cable to next resistance level at 1.4559.
   
• To the downside immediate support can be seen at 1.4441, a break below at this level will open the door towards next level at 1.4374.
  
  Resistance Levels
  
  R1:  1.4501(50% Retracement level)        
  
  R2: 1.4559 (61.8% Retracement level)    
  
  R3: 1.4600 (Psychological levels)
  
  Support Levels
  
  S1: 1.4441 (38.2% Retracement level)                    
  
  S2: 1.4374 (23.6% Retracement level)
  
  S3: 1.4329 (May 16th lows)