GBP/USD 1.4218

GBP/USD Open 1.4260 High 1.4445 Low 1.4153 Close 1.4291

Pound/Dollar also made attempt to rise yesterday. The currency couple reached a top at 1.4445, but further bullish scenario was rejected the Cable sharply lowered, closing at 1.4291. On the 1 hour chart the Fibonacci correction shows that after the 1.4080 bottom, the pair corrected upwards, but failed to break 38.4% level and is now back down for test of 1.4310 at 23.8%. Short term signals are descending with the objectives towards the region of 1.4125 and 1.4070, and remaining neutral in the medium term. The CCI indicator just went down the 100 line on the 4 hour chart, signaling a potential downward pressure.

Technical resistance levels: 1.4445 1.4565 1.4680
Technical support levels: 1.4155 1.4070 1.3940

Trading range: 1.4230 - 1.4155

Trend: Downward

Sell at 1.4218 SL 1.4248 TP 1.4168

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