GBPUSD: Rejects Lower Prices, Eyes Recovery Higher

7 June 2016, 04:20

GBPUSD: Having the pair rejected downside pressure on Monday, it now looks to recover higher in the days ahead. On the downside, support lies at the 1.4400 level where a break will turn attention to the 1.4350 level. Further down, support lies at the 1.4300 level. Below here will set the stage for more weakness towards the 1.4250 level. Conversely, resistance stands at the 1.4500 levels with a turn above here allowing more strength to build up towards the 1.4550 level. Further out, resistance resides at the 1.4600 level followed by the 1.4650 level. On the whole, GBPUSD threatens further upside pressure having rejected lower prices. 


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