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GBP/USD breaks major support at 1.43650, decline till 1.4240 is possible

  • Major support – 1.4367 (200 day 4H MA)
     
  • Major resistance – 1.4450 (55 day 4 H EMA)
     
  • Cable has broken major support 1.4367 and declined till 1.4342. It is currently trading around 1.4354.
     
  • On the lower side any break below 1.4365 will drag the pair down till 1.4300/1.4270.
     
  • The pair’s minor resistance is around 1.4400 (4H Tenken-Sen) and any break above targets 1.4450/1.4530 level.
     
  • Overall bearish invalidation only above 1.4600.

It is good to sell on rallies around 1.4365-1.4370 with SL around 1.4410 for the TP of 1.4300/1.4240

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