GBP/USD – bearish break on hourly.. But don’t forget Fed
Resistance – 1.4617-1.4639, 1.4669, 1.47
Support – 1.4546, 14500, 1.4472
Here we have a bearish break from rising channel on the hourly chart. That means doors are open for a drift lower to hourly 50-MA level of 1.4546. A break lower would expose 1.45 handle.
However, we should not forget Fed. The odds of Fed maintaining dovish stance intact are high.
Hence, another attempt at 1.4617-1.4636 cannot be ruled out.
Support – 1.4546, 14500, 1.4472
Here we have a bearish break from rising channel on the hourly chart. That means doors are open for a drift lower to hourly 50-MA level of 1.4546. A break lower would expose 1.45 handle.
However, we should not forget Fed. The odds of Fed maintaining dovish stance intact are high.
Hence, another attempt at 1.4617-1.4636 cannot be ruled out.
