Cable breaks minor support, decline till 1.4815 is possible
Major support -1.48750
GBP/USD is consolidating in narrow range between 1.48755 and 1.4950 level for the past two trading session. The pair has currently broken that major support 1.4875 and declined till 1.48721 level.
Intraday trend is weak as long as resistance 1.4910 holds. Any break above 1.4910 will take the pair to new level 1.4950/1.5010 level.
On the lower side any break below 1.4875 will drag the pair till 1.4833/1.4812 (161.8% retracement of 1.48649 and 1.4950).
It is good to sell on rallies around 1.4800 with SL around 1.4910 for the TP of 1.4835/1.4815
GBP/USD is consolidating in narrow range between 1.48755 and 1.4950 level for the past two trading session. The pair has currently broken that major support 1.4875 and declined till 1.48721 level.
Intraday trend is weak as long as resistance 1.4910 holds. Any break above 1.4910 will take the pair to new level 1.4950/1.5010 level.
On the lower side any break below 1.4875 will drag the pair till 1.4833/1.4812 (161.8% retracement of 1.48649 and 1.4950).
It is good to sell on rallies around 1.4800 with SL around 1.4910 for the TP of 1.4835/1.4815