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GBPUSD update - fails again at 1.4636

FX:GBPUSD   British Pound/U.S. Dollar
  • GBP/USD - rebound from 1.4578 failed to take out 1.4636 (38.2% of 1.5930-1.3835) and that could add credence to barish price-RSI divergence and rejection at larger falling trend line resistance at 1.4670.
  • Watch out for break below 1.4550 from here as that would strengthen bear grip.
  • On the higher side, move till 1.4670 to be viewed with caution. Only daily close above the same would add credence to bullish break from inverse head and shoulder breakout seen earlier this month.
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