FxWirePro: GBP/USD regains upwards momentum but reversal likely
Sterling rose sharply against the dollar on Friday after a disappointing U.S. jobs report sent the greenback lower, helping the pound cut down losses incurred earlier this week on worries about Britain's future in the Eu…
Sterling rose sharply against the dollar on Friday after a disappointing U.S. jobs report sent the greenback lower, helping the pound cut down losses incurred earlier this week on worries about Britain's future in the European Union.
The cable is currently trading around 1.4515 levels , uncertainty stemming from referendum on Britain’s exist from Eurozone is set to weigh on the currency pair in comings days .Therefore it’s good to sell this pair on rallies.
To the upside, the strong resistance can be seen at 1.4582, a break above this level would expose the cable to next resistance level at 1.4698.
To the downside immediate support can be seen at 1.4370, a break below at this level will open the door towards next level at 1.4330.
