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FxWirePro:GBP/USD upside capped by 113% fibo, good to sell on rallies

Thursday, February 2, 2017 12:55 PM UTC

Major support - 1.2398 (30- day EMA).
Major resistance – 1.27075 (1.13% retracement 1.26735 and 1.24130).
Cable broken major resistance of 1.26735 and jumped till 1.27058 yesterday. It’s upside capped by 1.13% retracement of 1.26735 and 1.24130.
On the lower side, major support is around 1.2624 (daily Tenken –Sen) and any break below targets 1.2559 (daily Kijun-Sen)/1.2500. Short term weakness below 1.2400.
GBP/USD should break above 1.27080 for further jump till 1.27750 level. Overall bearish invalidation only above 1.2780.

It is good to sell on rallies around 1.2655-1.2660 with SL around 1.2710 for the TP of 1.2500

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FxWirePro:GBP/USD upside capped by 113% fibo, good to sell on rallies

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