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- GBP/USD fell to its lowest level in almost 5 years on Monday before finding support near the 161.8% extension of the January to February advance near 1.4575
- Our near-term trend bias is lower in Cable while below 1.4760
- A move under 1.4575 is now needed to trigger the next leg lower in the rate
- A very minor turn window is eyed here
- A close back over 1.4760 would turn us positive on the pound
| Instrument | Support 2 | Support 1 | Spot | Resistance 1 | Resistance 2 |
|---|---|---|---|---|---|
| GBP/USD | 1.4575 | 1.4600 | 1.4630 | 1.4700 | 1.4760 |
