FXWIREPRO: GBP/USD Faces Major Intraday Support at 1.4180, Good to Buy at Dips
- Major Support – 1.4185 (200 day MA)
- Cable has recovered yesterday after making a low of 1.41965 (near 200 HMA) .It is currently trading around 1.42391.
- Intraday trend is slightly bullish as long as support 1.4185 holds.
- Any break below 1.4185 will drag the pair down till 1.4100/1.4040.Overall bullish invalidation only below 1.4000.
- On the higher side resistance is around 1.4280 and break above targets 1.4320/1.4350.
- The pair should close above 1.4400 for further upside.
It is good to buy at dips around 1.4220 with SL around 1.4180 for the TP of 1.4320/1.4345.
The material has been provided by InstaForex Company - www.instaforex.com