2
595
- GBPUSD has traded steadily higher since finding support earlier this week at the 261.8% extension of the January/February advance
- Our near-term trend bias is now higher in Cable
- The 38% retracement of the February/April decline at 1.4940 looks to be a key pivot with traction above needed to spark a more important leg higher
- A very minor turn window is eyed tomorrow
- A daily close under 1.4680 would turn us negative on the pound
Instrument | Support 2 | Support 1 | Spot | Resistance 1 | Resistance 2 |
---|---|---|---|---|---|
GBPUSD | 1.4680 | 1.4800 | 1.4915 | 1.4940 | 1.5050 |
Trend:
- H4 - bullish
- D1 - market rally within bearish
- W1 - ranging bearish
- MN1 - bearish