- GBP/USD has broken short term trend line support 1.5575 and this confirms short term weakness, a decline till 1.5480 is possible.
- On the downside minor support is around 1.5550 and break below targets 1.5530/1.5480 level in short term.
- The pair’s strong resistance is around 1.5680 and break above will take the pair to 1.5750/1.5800 level.
- The minor resistance is around 1.5600/1.5630/1.5650.
It is good to sell on rallies around 1.5600 with SL around 1.5650 for the TP of 1.5480.
Resistance
R1- 1.5630
R2-1.5680
R3- 1.5750
Support
S1-1.5550
S2-1.5480
S3-1.5430
The material has been provided by InstaForex Company – www.instaforex.com