Early of the week GBP/USD rally was capped by the 200 EMA and 38.2% above high of last week swing high to low on Wednesday. Resistance was also provided by the upper channel line od ascending channel.
The downtrend was initially met by support at 38.2% and then at 61.8% at Friday closing.
After penetrating the lower channel line and with sentiment is on the downtrend with lower high and low, I am expecting cable to move to support at 1.4258. A immediate resistance is found at 1.4627.
