FxWirePro: GBP/USD intraday upside momentum strong after Fed yellen comments
The pair has found renewed bullish momentum after Fed yellen comments, breaking strong resistance at 1.4269 and is moving upwards to test next resistance level at 1.4377. The pair is trading around 1.4370 levels and it i…
The pair has found renewed bullish momentum after Fed yellen comments, breaking strong resistance at 1.4269 and is moving upwards to test next resistance level at 1.4377.
The pair is trading around 1.4370 levels and it is expected advance further towards 1.4450 and 1.4470 levels in the short term.
Short pullback around 1.4290 should be taken as buying opportunities, as the British pound is stronger against the US dollar in intraday trading.
To the upside, the strong resistance can be seen at 1.4377, a break above this level would take it to upside to next resistance level at 1.4435.
To the downside immediate support can be seen at 1.4300, a break below this level will take the pair to next level at 1.4269 levels.
