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GBP/USD – Bears may make their presence felt

FX:GBPUSD   British Pound/U.S. Dollar
Daily Chart

Resistance – 1.4350, 1.4392, 1.4438

Support – 1.4298, 1.4252, 1.4220

  • Pair’s rejection at 100-DMA of 1.4438 in the NY session followed by a fall back below inv. H&S neckline and a daily close below 1.4350 has opened doors for a drift lower to 1.4298. A violation there could yield 1.4252, although only a daily close below 50-DMA of 1.4220 would crowd out bulls.
  • On the higher side, 1.4392 (Inv H&S neckline) could be put to test if hurdle at 1.4350 is breached.
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