- GBP/USD made a high of 1.56737 and has declined from that level. It has formed temporary top around 1.5675 and so decline till 1.5550 cannot be ruled out.
- On the higher minor resistance is around 1.5650 and any indicative break above targets 1.5680/1.5750.
- The minor support is at 1.5600 and break below targets 1.5570/1.5525 level.
- Short term bullish invalidation if it closes below 1.5550.
Indicators (4 hour chart)
CCI (50) – Buy
Ichimoku- Neutral
It is good to sell on rallies around 1.5620 with SL around 1.5650 for the TP of 1.555/1.5520
The material has been provided by InstaForex Company – www.instaforex.com