FxWirePro: GBP/USD rises above towards 1.4100 levels, a key barrier ahead
GBP/USD declined on Friday as the greenback rose against sterling following soft UK industrial output data. Industrial output data declined 0.3 percent in February to give 0.5 fall on the year, its biggest drop since 201…
GBP/USD declined on Friday as the greenback rose against sterling following soft UK industrial output data. Industrial output data declined 0.3 percent in February to give 0.5 fall on the year, its biggest drop since 2013.
The pair currently has made modest gain in early US session but further rally is likely to be interrupted by strong resistance level located at 1.4128.
Technically in the 4 hour chart the 55, 30 and 20 MA depicts a clear bearish slope above the current price action, the RSI is indicating towards downside at 42.
To the upside, the strong resistance can be seen at 1.4134, a break above this level would expose the cable to next resistance level at 1.4234 levels.
To the downside strong support can be seen at 1.4076, a break below at this level will open the door towards next level at 1.4047.
