FxWirePro: GBP/USD Maintains Bullish Bias With Focus on 1.4450 Levels

FxWirePro: GBP/USD Maintains Bullish Bias With Focus on 1.4450 Levels

19 April 2016, 16:13
Roberto Jacobs
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FxWirePro: GBP/USD Maintains Bullish Bias With Focus on 1.4450 Levels

  • The Sterling remained in strong bullish tone against dollar on Tuesday as buying interest continued as the pair was helped by two polls showing the "in camp well" ahead in the run into June’s referendum on European Union membership. 
  • Currently the pair is approaching to testing resistance level located at 1.4416, it is set to breach resistence level at 1.4416 and reach higher levels in the short term. 
  • To the upside, the strong resistance can be seen at 1.4340, a break above this level would expose to cable to next resistance level at 1.4458. 
  • To the downside immediate support can be seen at 1.4340, a break below will open the door towards next level at 1.4262. Resistance Levels R1: 1.4416 (38.2% Retracement Level) R2: 1.4458 (March 31st high) R3: 1.4511 (23.6% Retracement Level) Support Levels S1: 1.4340 (50% Retracement Levels) S2: 1.4262 (61.8% Retracement Levels) S3: 1.4200 (Psychological levels)

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