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GBP/USD – Spikes to be viewed with caution

FX:GBPUSD   British Pound/U.S. Dollar
GBP/USD             – Spikes to be viewed with caution

Support – 1.4413, 1.4371, 1.4330

Resistance – 1.4444, 1.4471, 1.4536

Cable’s bearish break from the sideways range on Friday post US non-farm payrolls data reinforced bears; hence the currency could be met with offers. Failure to take out 1.4444 witnessed on the hourly chart now could trigger a break below 1.4413 (38.2% of 1.3835-1.4770) and open doors for a slide to 100-DMA support of 1.4371.

On the higher side, 1.4444 needs to be breached, preferably on hourly closing basis, if resistance at 1.45-1.4536 is to be put to test.
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