• GBP/USD pair declined sharply as fresh sell off resumed on Monday as investors were still worried that looming June referendum could see Britons vote to leave the European Union.
     
  • Currently the pair is trading around 1.4472 levels , it is set to decline further towards 1.4400 and later 1.4350 level.
     
  • To the upside, the strong resistance can be seen at 1.4494, a break above this level would expose the cable to next resistance level at 1.4533 levels.
     
  • To the downside strong support can be seen at 1.4456, a break below at this level will open the door towards next level at 1.4409.

    Resistance Levels

    R1:  1.4494 (50 % Retracement level)      

    R2: 1.4533 (61.8 % Retracement level)   

    R3: 1.4547 (Daily high)

    Support Levels

    S1: 1.4456 (38.2 % Retracement level)   

    S2: 1.4409 (23.6 % Retracement level)

    S3: 1.4377 (May 9th lows)

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