FxWirePro: GBP/USD outlook weaker on renewed downside pressure

GBP/USD   rebounded slightly in early US session after, US retail sales data printed negative figures. However, the pair failed to advance further above and slipped back resuming its downward momentum. Any upside should be limited as the pair finds strong resistance at 1.4410 levels. 

• Currently the pair is approaching psychological level at 1.4300. A break below will unleash a strong bearish momentum towards 1.4200 levels.
   
• To the upside, the strong resistance can be seen at   1.4410, a break above this level would expose the cable to next resistance level at 1.4450 levels.
   
• To the downside strong support can be seen at 1.4277, a break below at this level will open the door towards next level at 1.4200 levels.
  
  Recommendation: Go short around 1.4380, targets 1.4280, 1.4200, SL 1.4400
  
  Resistance Levels
  
  R1:  1.4328 (50% Retracement level)
  
  R2: 1.4367 (61.8% Retracement level)
  
  R3: 1.4410 (38.2% Retracement level)
  
  Support Levels
  
  S1: 1.4310 (Daily lows)
  
   S2: 1.4277 (23.6% Retracement level)
  
  S3: 1.4200 (Psychological levels)