GBP/USD European session outlook
Resistance – 1.4488, 1.4514, 1.4549
Support – 1.44, 1.4372-58, 1.4328
Data/Event to watch out for – BOE Quarterly Inflation Report (QIR)
Cable’s failure to sustain above 1.4444 has opened the doors for a re-test of demand below 1.44 levels. A rebound from 1.4413 (38.2% of 1.3835-1.4770) followed by a move above 1.4444 would shift risk in favor of a re-test of 1.4488 (previous day’s high).
On the lower side, major support is seen around 1.4372 (rising trend line on daily)-1.4358 (daily 100-SMA).
Support – 1.44, 1.4372-58, 1.4328
Data/Event to watch out for – BOE Quarterly Inflation Report (QIR)
Cable’s failure to sustain above 1.4444 has opened the doors for a re-test of demand below 1.44 levels. A rebound from 1.4413 (38.2% of 1.3835-1.4770) followed by a move above 1.4444 would shift risk in favor of a re-test of 1.4488 (previous day’s high).
On the lower side, major support is seen around 1.4372 (rising trend line on daily)-1.4358 (daily 100-SMA).
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.