FxWirePro: GBP/USD gains some upside momentum but still strongly bearish
The British pound has recovered some ground against dollar after sharply declining in the European session to hit low at 1.4050. Soft US jobless claims gave the pair a boost during the early American session as continuin…
The British pound has recovered some ground against dollar after sharply declining in the European session to hit low at 1.4050. Soft US jobless claims gave the pair a boost during the early American session as continuing jobless claims came at 2,191K against previous 2,172K reading.
Currently the pair trading around 1.4100 levels it is set to decline towards 1.4000 and 1.3950 in the short term.
To the upside, the strong resistance can be seen at 1.4173 , a break above this level would expose the cable to next resistance level at 1.4234.
To the downside immediate support can be seen at 1.4076, a break below at this level will open the door towards next level at 1.4050.
