This cross has been directionless over the last 3-5 weeks not really sure where it wants to go. The British Pound (GBP) pushed higher off Monday’s open to 0.4635 (2.1575) only to retreat to 0.4660 (2.1470) in the following hours. Short term support lies at 0.4630 (2.1600) with resistance at 0.4665 (1.1440). Both Central bank governors speak today hopefully to spark life into this cross. The most likely scenario we see happening is a break past channel support at current price around 0.4640 (2.1550) signalling further support for the GBP.
Current Level: 0.4640
Resistance: 0.4670
Support: 0.4580
Last Weeks Range: 0.4628- 0.4681