FxWirePro: GBP/USD outlook weaker on renewed downside pressure
The GBP/USD pair initially inched higher at the beginning of the US session but soon resumed its downside as investors upped their bets that Federal Reserve will raise U.S. interest rates before the end of the year. The …
The GBP/USD pair initially inched higher at the beginning of the US session but soon resumed its downside as investors upped their bets that Federal Reserve will raise U.S. interest rates before the end of the year.
The currency pair is trading at 1.2245 levels, it is set to decline further towards 1.2200 and later 1.2150 levels in the short term.
To the upside, the strong resistance can be seen at 1.2334 a break above this level would expose to cable to next resistance level at 1.2434.
To the downside immediate support can be seen at 1.2230, a break below will open the door towards next level at 1.2200.
