• 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.
  
  Resistance Levels
  
  R1:  1.4340 (38.2% Retracement level)   
  
  R2: 1.4435 (Daily high) 
  
  R3: 1.4463 (23.6% Retracement level)
  
  Support Levels
  
  S1: 1.4237 (50% Retracement level)
  
  S2: 1.4145 (61.8% Retracement level)    
  
  S3: 1.4107 (March 10th lows)