Technical Analysis - GBPUSD rebounded sharply from the 38% retracement of the mid-April range at 1.4865
24 April 2015, 15:11
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- GBPUSD rebounded sharply from the 38% retracement of the mid-April range at 1.4865
- Our near-term trend bias is higher in the pound while over 1.4865
- The 50% retracement of the February/April range at 1.5060 is a key pivot with traction above needed to set off a more important leg higher
- A very minor turn window is eyed tomorrow
- A daily close below 1.4865 would turn us negative on Cable
| Instrument | Support 2 | Support 1 | Spot | Resistance 1 | Resistance 2 |
|---|---|---|---|---|---|
| GBP/USD | 1.4865 | 1.4930 | 1.5030 | 1.5060 | 1.5120 |
