GBP/USD faces resistance around 1.4480, good to sell on rallies
Major resistance – 1.4480 (trend line joining 1.4663 and 1.4474)
Major support -1.4350 (55 day EMA)
Cable has retreated after making a high of 1.4450 level. It is currently trading around 1.43925.
Short term trend is slightly bearish as long as resistance 1.44800 holds.
Any break above 1.4480 will take the pair to next level around 1.4520/1.4580.
On the lower side any break below 1.4350 will drag the pair till 1.4280/1.4200/1.4150 level.
Short term bearish invalidation only if it closes above 1.4500 level.
It is good to sell on rallies around 1.4410-1.4420 with SL around 1.4480 for the TP of 1.4210/1.4155
Major support -1.4350 (55 day EMA)
Cable has retreated after making a high of 1.4450 level. It is currently trading around 1.43925.
Short term trend is slightly bearish as long as resistance 1.44800 holds.
Any break above 1.4480 will take the pair to next level around 1.4520/1.4580.
On the lower side any break below 1.4350 will drag the pair till 1.4280/1.4200/1.4150 level.
Short term bearish invalidation only if it closes above 1.4500 level.
It is good to sell on rallies around 1.4410-1.4420 with SL around 1.4480 for the TP of 1.4210/1.4155
