FxWirePro: GBP/USD gains some upside momentum but still bearish
The GBP/USD pair declined on Tuesday as investors betted that U.S. interest rates could rise by year-end while British rates may also be cut again. The ongoing weakness is set to continue for this pair as the resistance …
The GBP/USD pair declined on Tuesday as investors betted that U.S. interest rates could rise by year-end while British rates may also be cut again.
The ongoing weakness is set to continue for this pair as the resistance level at 1.3224 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels.
To the upside, immediate resistance can be seen at 1.3143, a break above this level would expose the cable to next resistance level at 1.3185.
To the downside immediate support can be seen at 1.3060, a break below at this level will open the door towards next level at 1.3000.
