GBP/USD – now stuck between Fibo level and Neckline
Resistance – 1.4533, 1.4617, 1.4669
Support – 1.4389, 1.4368-1.4350, 1.43
Support – 1.4389, 1.4368-1.4350, 1.43
- Cable rose to 1.4514 levels after it rose above 1.4572 levels as anticipated earlier today.
- The loss of momentum at a high of 1.4519 following inverse head and shoulder breakout indicates the currency pair could remain trapped between inverse H&S neckline (seen today at 1.4389) and 1.4533 (50% of 1.5230-1.3535).
- Moreover, 1.4533 has been a tough nut to crack since early February.
