GBP/USD faces major 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.
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.