GBP/USD - May re-test rising trend line hurdle
Cable dropped to rising trend line support as expected earlier today and extended losses to 1.4613 before rising to 1.4635 levels.
US session outlook
Cable's breach of rising trend line has shifted balance in favor of bears. However, a rebound from support at 1.4617 followed by a break above 1.4635 could see the pair make an attempt at 1.4660 (rising trend line hurdle).
Gains above 1.4660 are to be treated with caution.
Meanwhile, failure at 1.4660 followed by a drop below 1.4617 or a failure in general to remain above 1.4617 would expose strong support at 1.4578 levels.
US session outlook
Cable's breach of rising trend line has shifted balance in favor of bears. However, a rebound from support at 1.4617 followed by a break above 1.4635 could see the pair make an attempt at 1.4660 (rising trend line hurdle).
Gains above 1.4660 are to be treated with caution.
Meanwhile, failure at 1.4660 followed by a drop below 1.4617 or a failure in general to remain above 1.4617 would expose strong support at 1.4578 levels.
