- GBP/USD has taken support around 1.5675 and recovered from that level. Overall trend is still bearish as long as resistance 1.5803 holds.
- GBP/USD has seen renewed selling interest at 1.5803 and overall trend remains weak for the decline till 1.5615 (61.8% retracement of 1.5422 and 1.5930).
- It has formed temporary top around 1.5930 and any further bullishness can be seen only above that level.
- The minor resistance is around 1.5767. Short term major resistance is around 1.5803.
It is good to sell on rallies around 1.5760 with SL around 1.5803 for the TP of 1.5630/1.5615.
The material has been provided by InstaForex Company – www.instaforex.com