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GBP/USD faces minor resistance at 1.4100, break above targets 1.4200/1.42452

Major support -1.4050 (Mar 16th low) Minor resistance -1.4100 (trend line joining 1.4120 and 1.4104) The pair has once recovered after making a low of 1.40580. it is currently trading around 1.40872. The minor resistance…

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GBP/USD faces minor resistance at 1.4100, break above targets 1.4200/1.42452
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  • Major support -1.4050 (Mar 16th low)
     
  • Minor resistance -1.4100 (trend line joining 1.4120 and 1.4104)
     
  • The pair has once recovered after making a low of 1.40580.  it is currently trading around 1.40872.
     
  • The minor resistance is around 1.4100 and slight bullishness can be seen only above 1.4100.
     
  • Any break above 1.4100 will take the pair till 1.4167/1.4200/1.4250.
     
  • Short term bearish invalidation only above 1.4250.
     
  • On the lower side any break below 1.4050 will drag the pair down till 1.4000/1.3970 level.

It is good to buy above 1.4100 with SL around 1.4050 for the TP of 1.4200/1.4245

 

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