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GBP/USD breaks major support 1.4216, targets 1.4100/1.4050

  • Major resistance -1.4286 (Tenken-Sen)
     
  • Major support -1.4216
     
  • The pair has retreated after making a high of 1.42687 at the time of writing. It is currently trading around 1.42069.
     
  • Short term trend is weak as long as resistance 1.42860 holds. Any break above 1.42860 will take the pair to next level till 1.4340/1.4380. Overall bearish invalidation will happen if it closes above 1.4400.
     
  • On the lower any break below 1.4216 will drag the pair down till 1.4150/1.4100/1.4050 level.

It is good to sell around 1.42100 with SL around 1.42860 for the TP of 1.4100/1.4050

 

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