FxWirePro: GBP/USD outlook weaker on renewed downside pressure
British pound declined sharply against US dollar on Tuesday, as the pound came under strong selling pressure after a poll showed support for those who want Britain to leave the European Union, adding to growing uncertain…
British pound declined sharply against US dollar on Tuesday, as the pound came under strong selling pressure after a poll showed support for those who want Britain to leave the European Union, adding to growing uncertainty about the June 23 membership referendum.
Currently the pair trading at 1.4500, short pullback towards 1.4550 levels should be viewed as selling opportunities as the resistance level at 1.4581 is set to hold the bulls from advancing further above and push the pair towards lower levels in the short term.
To the upside, the strong resistance can be seen at 1.4639, a break above this level would expose the cable to next resistance level at 1.4700.
To the downside, immediate support can be seen at 1.4448, a break below at this level will open the door towards next level at 1.4400.
