- The GBP/USD pair extended its gain on Wednesday to hit high at 1.4730, maintaining the positive tone all the day long as a poll ahead of Britain's European Union membership referendum gave a six-point lead to the “In” camp, and as several bookmakers widened the odds on a Brexit.
- The pair is all set to move in quick succession towards 1.4800 levels in the near term, as the concerns over Brexit is quickly fading.
- To the upside, the strong resistance can be seen at 1.4809, a break above this level would expose to cable to next resistance level at 1.4900.
- To the downside strong support can be seen at 1.4654, a break below at this level will open the door towards next level at 1.4578.
Resistance Levels
R1: 1.4730 (38.2 % Retracement Level)
R2: 1.4809 (23.6 % Retracement Level)
R3: 1.4900 (Psychological levels)
Support Levels
S1: 1.4654 (50% Retracement Level)
S2: 1.4578 (61.8% Retracement Level)
S3: 1.4470 (May 24th lows)
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