GBP/USD faces resistance at 1.4580, good to sell on rallies
Major resistance – 1.4580 (trend line joining 1.5240 and 1.46633)
Cable has retreated after making a high of 1.4578. It is currently trading around 1.4488. Short term is weak as long as resistance 1.4580 holds.
On the lower side major support is around 1.4450 and any break below targets 1.4400/1.4350.Major weakness can be seen below 1.4320.
Any break above major resistance 1.4580 will take the pair till 1.4650/1.4680 level.
It is good to sell on rallies around 1.4485-90 with SL around 1.4580 for the TP of 1.4380/1.4320
Cable has retreated after making a high of 1.4578. It is currently trading around 1.4488. Short term is weak as long as resistance 1.4580 holds.
On the lower side major support is around 1.4450 and any break below targets 1.4400/1.4350.Major weakness can be seen below 1.4320.
Any break above major resistance 1.4580 will take the pair till 1.4650/1.4680 level.
It is good to sell on rallies around 1.4485-90 with SL around 1.4580 for the TP of 1.4380/1.4320