GBP/USD – Rebounds from rising channel support

٢٧ أبريل ٢٠١٦

Resistance – 1.4617-1.4639, 1.4669, 1.47 

Support – 1.4578-1.4568, 1.4519, 1.4472 

• Pair’s rebound from rising channel support ran into resistance at 1.4617 as expected earlier today.
  

• The spot is trading around 1.4600. An hourly close above 1.4617 would add credence to the rebound from channel support and open doors for 1.4650 (rising channel resistance).
  

• However, intraday break above 1.4636 (38.2% of 1.5930-1.3835) ahead of Fed need to be viewed with caution.