Last week GBPUSD wasn’t able to break resistance at 1.4730 level. That caused rebound and yesterday the price reached support at 1.4480. GBPUSD reaction at current level will show further direction of movement.
If the price rebounds, the next target will be located at 1.4620 and after that the price will tend to go up this year’s high at 1.4730 level. Alternatively if GBPUSD crashes through support at 1.4480, the price will go down to 1.4350 or even lower to the bottom line of bullish regression channel.
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