FxWirePro: GBP/USD holds above 1.4050 but upside is limited
Sterling declined sharply to hit 1-month low against the greenback on Wednesday, as the sterling stumbled again on Brexit fears . The pair lost over 160 pips so far, having been under strong selling pressure since the ea…
Sterling declined sharply to hit 1-month low against the greenback on Wednesday, as the sterling stumbled again on Brexit fears . The pair lost over 160 pips so far, having been under strong selling pressure since the early European session opening.
Currently the pair is trading around 1.4026 levels ,it is set to reach 1.3950 and 1.3900 levels in the short term
To the upside, the strong resistance can be seen at 1.4119, a break above this level would expose the cable to next resistance level at 1.4148 levels.
To the downside strong support can be seen at 1.4030, a break below at this level will open the door towards 1.4000 levels.
