FxWirePro: GBP/USD loses momentum but outlook is bullish
GBP/USD has lost some ground to dollar to trade around 1.4322 levels after slipping from 1.4387 levels. The cable is currently trading in oversold condition and a rebound towards higher levels can be expected sooner or l…
GBP/USD has lost some ground to dollar to trade around 1.4322 levels after slipping from 1.4387 levels. The cable is currently trading in oversold condition and a rebound towards higher levels can be expected sooner or later. The pair is supported by raising trend line in 4 hours chart and is trading above daily pivot point is located at 1.4320 ,which indicate further upside for this pair.
To the upside, the strong resistance can be seen at 1.4463, a break above this level would expose the cable to next resistance level at 1.4500.
To the downside immediate support can be seen at 1.4237, a break below at this level will open the door towards next level at 1.4145.
