GBP/USD – Rebounds from rising channel support

FX_IDC:GBPUSD   British Pound / U.S. Dollar
Resistance – 1.4617-1.4639, 1.4669, 1.47 

Support – 1.4578-1.4568, 1.4519, 1.4472 

  • Pair’s rebound from rising channel support ran into resistance at 1.4617 as expected earlier today.
  • The spot is trading around 1.4600. An hourly close above 1.4617 would add credence to the rebound from channel support and open doors for 1.4650 ( rising channel resistance).
  • However, intraday break above 1.4636 (38.2% of 1.5930-1.3835) ahead of Fed need to be viewed with caution.
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