FxWirePro: GBPUSD outlook weaker on renewed Brexit fears

The cable has resumed its bearish trend, after breaking support level at 1.4730. The  pair is all set to move in quick succession towards 1.4550 levels in the near term, as the debate over Brexit from Europe is set to weigh on the currency pair.
 

• Currently the cable is trading around 1.4668 levels, it is set to decline further towards 1.4600 later towards 1.4580 levels in the short term.
   
• To the upside, the strong resistance can be seen at 1.5730, a break above this level would expose to cable to next resistance level at 1.4800.
   
• To the downside immediate support can be seen at 1.5640, a break below at this level will open the door towards next level at 1.4572.
  
  Recommendation: Go short around 1.4700, targets 1.4650, 1.4580, SL 1.4800
  
  Resistance Levels
  
  R1: 1.5730 (38.2% Retracement Level)
  
  R2: 1.4800 (50 % Retracement Level)
  
  R3: 1.4849 (Dec 30th high)
  
  Support Levels
  
  S1: 1.5640 (23.6% Retracement Levels)
  
  S2: 1.4572 (April 5th lows)
  
  S3: 1.4500 (Psychological levels)