![GBP/USD Breaks Major Support at 1.43650, Decline Till 1.4240 Is Possible GBP/USD Breaks Major Support at 1.43650, Decline Till 1.4240 Is Possible](https://c.mql5.com/6/739/splash-671981.jpg)
GBP/USD Breaks Major Support at 1.43650, Decline Till 1.4240 Is Possible
16 May 2016, 11:15
![Roberto Jacobs Roberto Jacobs](https://c.mql5.com/avatar/2015/6/55706E50-4CAE.jpg)
0
52
GBP/USD Breaks Major Support at 1.43650, Decline Till 1.4240 Is Possible
- Major support – 1.4367 (200 day 4H MA)
- Major resistance – 1.4450 (55 day 4 H EMA)
- Cable has broken major support 1.4367 and declined till 1.4342. It is currently trading around 1.4354.
- On the lower side any break below 1.4365 will drag the pair down till 1.4300/1.4270.
- The pair’s minor resistance is around 1.4400 (4H Tenken-Sen) and any break above targets 1.4450/1.4530 level.
- Overall bearish invalidation only above 1.4600.
It is good to sell on rallies around 1.4365-1.4370 with SL around 1.4410 for the TP of 1.4300/1.4240
The material has been provided by