FxWirePro: GBP/USD remains bullish as rally continues
The Sterling surged higher against the greenback on Tuesday, extending above 1.4600 levels its highest level in more than 4 days, before retreating back towards 1.4592 levels in the early US session. The GBP got a boost …
The Sterling surged higher against the greenback on Tuesday, extending above 1.4600 levels its highest level in more than 4 days, before retreating back towards 1.4592 levels in the early US session.
The GBP got a boost from growing support for those campaigning to stay in European Union and Bank of England chief made no further comments about the risk of Brexit vote next month.
Further decline is expected to be limited as the support level at 1.4546 levels is set to hold the bears from falling further below, and bring a rebound towards higher levels, therefore it’s good to buy on dips.
To the upside, the strong resistance can be seen at 1.4656, a break above this level would expose to cable to next resistance level at 1.4700.
To the downside major support can be seen at 1.4588, a break below will open the door towards next level at 1.4546.
