FxWirePro: GBP/USD maintains bullish bias with focus on 1.4400 levels
Friday, June 17, 2016 5:52 PM UTC
- GBP/USD rose on Friday, as traders tried to assess whether the killing of a pro-EU British lawmaker may change the balance of opinions in Britain's upcoming referendum on European Union membership.
- Short term buying for this pair is set to continue as death of UK lawmaker on Thursday has thrown next week's referendum on European Union membership into limbo.
- To the upside, the strong resistance can be seen at 1.4400, a break above this level would expose the cable to next resistance level at 1.4458.
- To the downside, immediate support can be seen at 1.4305 a break below at this level will open the door towards next level at 1.4236.
Resistance Levels
R1: 1.4374 (38.2% Retracement level)
R2: 1.4400 (Psychological levels)
R3: 1.4458 (23.6% Retracement level)
Support Levels
S1: 1.4305 (50% Retracement level)
S2: 1.4236 (61.8% Retracement level)
S3: 1.4194 (Daily lows)