GBP/USD pair slipped back towards 1.4200 as fresh selling resumed on Tuesday after weak UK CPI data and renewed Brexit fears weighted on the pair.
- Currently the pair is trading around 1.4221 levels, it is set to decline further towards 1.4150 and later 1.4100 level.
- Technically in the 4 hour chart the 55, 30 and 20 MA depicts a clear bearish slope above the current price action, the RSI is indicating towards downside at 35.
- To the upside, the strong resistance can be seen at 1.4300, a break above this level would expose the cable to next resistance level at 1.4400 levels.
- To the downside strong support can be seen at 1.4209, a break below at this level will open the door towards next level at 1.4186.
Resistance Levels
R1: 1.4256 (50 % Retracement level)
R2: 1.4300 (61.8% Retracement level)
R3: 1.4400 (Daily high)
Support Levels
S1: 1.4209 (38.2 % Retracement level)
S2: 1.4186 (Daily lows)
S3: 1.4148 (23.6 % Retracement level)


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