FXWIREPRO: GBP/USD Strongly Bearish Despite Upside Attempts

FXWIREPRO: GBP/USD Strongly Bearish Despite Upside Attempts

4 April 2016, 18:07
Roberto Jacobs
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FXWIREPRO: GBP/USD Strongly Bearish Despite Upside Attempts

  • The Sterling was the best performer against US dollar on Monday, as the pair extending its upward corrective movement towards 1.4321 levels, reaching the 50% retracement levels and gradually declining towards 1.4285 levels after US market opened. 
  • The pair has to break resistance level at 1.4348 levels in order find any bullish momentum, unless until trend continues to be strongly bearish for this pair. 
  • To the upside, the strong resistance can be seen at 1.4348, a break above this level would expose the cable to next resistance level at 1.4400. 
  • To the downside immediate support can be seen at 1.4245, a break below at this level will open the door towards next level at 1.4189. Resistance Levels R1: 1.4321 (Daily highs)  R2: 1.4348 (61.8% Retracement level)  R3: 1.4400 (Psychological levels ) Support Levels S1: 1.4245 (50% Retracement level)  S2: 1.4189 (Daily lows) S3: 1.4150 (50% Retracement level)


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