FxWirePro: GBP/USD retains bullish outlook with scope to target 1.4450
The GBP/USD pair retreated back on Wednesday, as the Pound found short selling interest after data showed the number of unemployed in Britain rising and wage growth fell short of expectations. The pair eased to intraday …
The GBP/USD pair retreated back on Wednesday, as the Pound found short selling interest after data showed the number of unemployed in Britain rising and wage growth fell short of expectations.
The pair eased to intraday low at 1.4345, after the data release but recovered towards 1.4386 in the early US session.
However downside is expected to be limited as the pound presents positive tone and is set to resume upward momentum against weaker dollar.
To the upside, the strong resistance can be seen at 1.4407, a break above this level would expose the pair towards next resistance level at 1.4441.
To the downside immediate support can be seen 1.4370, a break below at this level will open the door towards next level at 1.4345.
