FxWirePro: GBP/USD loses momentum but outlook is bullish
The Sterling remained in strong bullish tone against the dollar on Wednesday as buying interest continued as the dollar was weighed down after investors were concerned about upcoming US Presidential Elections. The pair m…
The Sterling remained in strong bullish tone against the dollar on Wednesday as buying interest continued as the dollar was weighed down after investors were concerned about upcoming US Presidential Elections.
The pair made session high at 1.2159 but retreated slightly to trade at 1.2240 levels.
The pair remains under bulls control unless until it trades above 1.2110 support level, therefore it is good to buy this pair on dips.
To the upside, the strong resistance can be seen at 1.2414, a break above this level would expose to cable to next resistance level at 1.2472.
To the downside immediate support can be seen at 1.2220, a break below will open the door towards next level at 1.2156.
