GBP/USD D1 Technical July 14

Yesterday cable manage to hold its support level 1.5100 and get a good bounce. Currently pair is trading at 1.5250 level. Now support is around 1.5197 level. Bollinger bands are providing sell signals for the pair.  Price action on 1.5197 should be carefully watch.

If GBP/USD manage to reached 1.5197 level and get a bounce then it will indicate bullish strength that will allow Cable to start moving towards northward and target 1.5260-300 level respectively.

On the other hand, If pair fails to hold its support level and H4 candle chart closure below support level then pair will rapidly start falling towards southward and target will be 1.5150-100 level respectively.

High impact Data’s can change the scenario. Data’s like Asset Purchase Facility, Official Bank Rate, MPC Rate Statement.

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