FxWirePro: GBP/USD Faces Strong Support at 1.4450, Good to Buy at Dips
- Major resistance – 1.4668 (Feb 4th high 2016)
- Major support – 1.4450 (resistance turned into support)
- Cable has broken minor support 1.4500 and declined till 1.4470 yesterday. Cable took support near 7 day EMA and started to jump from that level.
- It is currently trading at 1.46045.
- Short term trend is bullish as long as support 1.4450 holds. On the higher side major resistance is around 1.46680 and break above targets 1.47000/1.4755/1.4800 levels.
- On the lower side major support is around 1.4450 and break below targets 1.4400/1.4345 level.
It is good to buy at dips around 1.4535 with SL around 1.4450 for the TP of 1.4668/1.4755.
The material has been provided by InstaForex Company - www.instaforex.com