GBP/USD – On recovery mode after UK CBI data release
Resistance – 1.4514, 1.4578, 1.46
Support – 1.4425, 1.4382, 1.4350
Support – 1.4425, 1.4382, 1.4350
- Moderation in the pace of contraction in the total orders reported by CBI seems to have put Cable on a recovery mode.
- The bird is now trading around 1.4460 levels.
- As noted earlier today, a rebound from 100-DMA if results in break above daily high of 1.4469 could yield 1.4514 levels.
- Intraday bullish invalidation is seen only below 1.4425 (100-DMA).
