FxWirePro: GBP/USD outlook weaker on renewed downside pressure
The Sterling remained in strong bearish tone against dollar on Tuesday as selling interest continued as concerns over next year's Brexit negotiations continued to weigh heavily on sterling. The pair made session high at …
The Sterling remained in strong bearish tone against dollar on Tuesday as selling interest continued as concerns over next year's Brexit negotiations continued to weigh heavily on sterling.
The pair made session high at 1.2269 but declined slightly to trade at 1.2255 levels.
The pair remains under bears control unless until it trades below 1.2345 resistance level, therefore it is good to sell this pair on rallies.
To the upside, immediate resistance can be seen at 1.2296, a break above this level would expose to cable to next resistance level at 1.2345.
To the downside immediate support can be seen at 1.2242, a break below will open the door towards next level at 1.2200.
