Outlook in GBPUSD has turned neutral at the moment , the pair is in recovery mode as long as trades above the 1.4680 levels on a daily closing basis , but recovery above the 1.4680 levels should be limited by the 1.4885 levels where fall resumption is likely ….however ; sustained breakout – daily closing – above the 1.4885 levels will extend recovery towards the 1.5009 levels before the next fall…
On the downside , support comes at the 1.4680 levels , sustained breakout – daily closing – below the 1.4680 levels is needed to restore the downside momentum , If seen , next support will be the 1.4565 levels , further down will pave the way towards the 1.4480 levels..
In all , as long as 1.4680 support holds on a daily closing basis , the GBPUSD remains in recovery mode , and further upside couldn’t be ruled out , but recovery above the 1.4680 levels should be limited by the 1.4885/1.5009 levels ,sustained breakout below the 1.4680 levels will restore the downside momentum and open 1.4565 ahead of the 1.4480 levels….
Intraday support comes at the 1.4738 levels , stability above this level on a 4 hour closing basis means further upside on the way , below 1.4738 will retest main support 1.4680…..???!!!!