- GBP/USD breaks major resistance 1.5630 after release of better than expected positive money supply and mortgage approvals in the UK.
- Technically it has broken major resistance 1.5630 and any break above would extend gains till 1.5670/1.5745 in short term.
- Intraday trend is still bullish as long as support 1.5600 (7 day 4 H EMA) holds.
- On the downside any break below 1.5600 will drag the apir further down till 1.5580/1.5550 in short term.
It is good to buy at declines at 1.56325-30 with SL around 1.5600 for the TP of 1.5670/1.5745.
The material has been provided by InstaForex Company – www.instaforex.com