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Short

Cable breaks major support 1.4350, targets 1.4200

FX:GBPUSD   British Pound/U.S. Dollar
200 1 10
Major Support - 1.4350

Major Intraday resistance - 1.4400

The pair has broken major support 1.4350 and declined till 1.4335 at the time of writing. It is currently trading around 1.4345.

Short term trend is weak as long as resistance 1.4400 holds.

Any break above will take the pair to next levels at 1.4450/1.4500. Short term bearish invalidation only above 1.4520.

On the lower side any break below 1.4350 will drag the pair down till 1.4280/1.4260/1.4200

It is good to sell on rallies around 1.4335-1.4340 with SL around 1.4400 for the TP of 1.4260/1.4200/1.4150
RationalTrader
8 months ago
the price is currently resting at 23,6 fibo on weekly chart....a VERY strong support. look for breakouts now in 20 minutes when CPI is released. good opportunity to go short or long when we get the figures
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