GBP/USD - attempting break above 1.4617

26 thg 4, 2016

Resistance – 1.4617, 1.4669, 1.47

Support – 1.4578, 1.4514, 1.4472

• Cable made a run at 1.4617 as expected following a break above 1.4578 and is now trading in range of 1.46-1.4610 levels.
  

• Pair needs to witness an hourly close above 1.4617, which would add credence to bullish break from rising channel formation. Such a move would expose 1.4669-1.47.
  

• However, caution needs to be observed as failure to take out/sustain above 1.4617 could yield 1.4578 under which 1.4533 levels stands exposed.