GBP/USD Open 1.4211 High 1.4598 Low 1.4162 Close 1.4202
On Wednesday Pound/Dollar fell sharply. The currency couple made a bottom at 1.4172 and closed at 1.4202. The triangle formation of 4 hour chart was penetrated downwards, assuming bearish momentum. The CCI indicator, however, just went up the 100 line on the 1 hour chart, which is a signal for potential upward return, as the market also seems to always rejected any movement under 1.4070 - 1.4110 this month. This makes the current situation quite risky to trade.
Technical resistance levels: 1.4660 1.4785 1.4900
Technical support levels: 1.4365 1.4250 1.4155
Trading range: 1.4275 - 1.4200
Sell at 1.4262 SL 1.4292 TP 1.4212
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