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Short

Cable breaks major support after UK GDP data, targets 1.4980

FX:GBPUSD   British Pound/U.S. Dollar
425 1 5
UK Q3 GDP 2nd release QOQ rose at 0.5% compared to forecast of 0.5% and YOY came at 2.3% compared to forecast of 2.3%.

But business investment (2.2% vs. 0.8% exp             ) and private consumption (0.8% vs 0.7% exp             ) has shown slight increase compared to previous quarter.

The pair is facing strong support around 1.5050 and break below targets 1.5028/1.4980 level.

On the higher side major resistance is around 1.5130 and break above targets 1.5160/1.5220.

The minor resistance is around 1.5105.

It is good to sell around 1.5040-45 with SL around 1.5085 for the TP of 1.5000/1.4980

nice... cable going for this..

GBPUSD as per Trendlines Cycle... downside on on way...!!!
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