GBP/USD - Eyeing sub 1.41 levels

FX:GBPUSD   British Pound / U.S. Dollar
Resistance - 1.4192, 1.4218, 1.4302

Support - 1.4090, 1.4056, 1.40

  • Cable's corrective rally yesterday followed by rejection at daily 5-MA levels in Asia today indicates fresh offers have hit the pair and prices could down to 1.4090 levels. A violation there would expose 1.4056 (76.4% of 1.3835-1.4770).
  • On the higher side, a convincing break above 1.4218, preferably on day end closing basis is required to signal a rally to 1.4302 (50% of 1.3835-1.4770).
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