GbpUsd Market reversed

GbpUsd Market reversed most of Cable gains from the last days and traded as low as 1.4882. Sentiment remains mixed but renewed strength may open the way to 1.6075 (38.2% retracement of 1.8669 – 1.4471 decline) and even 1.6570 (50% retracement). Uptrend may look for 1.6673 30th October high strong resistance. Further resistance holds 1.7816 (50% retracement of 2.1161-1.4471 decline). On the downside, former resistance 1.5462 holds support). Strong supports hold 1.4471 December low ahead of 1.3682 March 2001 low.