FxWirePro: GBP/USD gains some upside momentum but still bearish
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 in…
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.
