GBP/USD breaks major support 1.4000, decline till 1.350 is possible
GBP/USD has broken major support 1.40791 (Jan 2016 low) and declined till 1.39248 at the time of writing . Overall trend is weak and it is expected to decline till 1.4350 (2009 low). Bearish invalidation only above 1.455…
GBP/USD has broken major support 1.40791 (Jan 2016 low) and declined till 1.39248 at the time of writing .
Overall trend is weak and it is expected to decline till 1.4350 (2009 low).
Bearish invalidation only above 1.4550 (support turned into resistance).
Prevailing uncertainty about the outcome of the crucial referendum on the UK's future in the EU is likely to be the main source of downside pressure on GBP/USD. If UK exited out of EU decline till 1.200 is possible.
It is good to sell on rallies around 1.4020-25 with S L around 1.4550 for the TP of 1.4230/1.4355
