GBP/USD

The cable started moving towards the south from 1.7011 levels. We recommended to go long only above 1.7045 or hold shorts with sl 1.7043. The pair moved towards 23.6 fib level (from 1.6699 to 1.7011). In Asia's session, the pair faces resistance at 1.6967 (21 Hr Sma), 1.6980 (35 H Dema) and 1.6994 levels. On the down side, it has support at 1.6938 levels. Bears will be back on track below 1.6938 for 1.6922, 1.6915 and 1.69 (34 Hr Sma), 1.68 and 1.6780 levels. This bearish view is valid with sl 1.7043 levels. On the up side, once the pair crosses 1.7045, it can fly up to 1.7068, 1.71 and 1.7140 levels.