GBP/USD faces strong resistance at 1.468,good to sell on rallies
Major resistance -1.4675 (55 day MA)
The pair has declined after making a high of 1.46677 post Hawkish BOE monetary policy. It is currently trading around 1.45564.
Bank of England cuts inflation and growth projection yesterday, and this confirms that central bank unlikely to hike rates soon
On the lower side minor support is around 1.4520 and any break below targets 1.4480/1.4440/1.43750.
Any break above major resistance 1.4675 will take the pair to next level around 1.4750/1.4795.
The minor resistance are around 1.4600/1.4650.
It is good to sell on rallies around 1.4575-580 with SL around 1.4680 for the TP of 1.4325/1.4240.
The pair has declined after making a high of 1.46677 post Hawkish BOE monetary policy. It is currently trading around 1.45564.
Bank of England cuts inflation and growth projection yesterday, and this confirms that central bank unlikely to hike rates soon
On the lower side minor support is around 1.4520 and any break below targets 1.4480/1.4440/1.43750.
Any break above major resistance 1.4675 will take the pair to next level around 1.4750/1.4795.
The minor resistance are around 1.4600/1.4650.
It is good to sell on rallies around 1.4575-580 with SL around 1.4680 for the TP of 1.4325/1.4240.