• GBP/USD   declined strongly in European session after UK retail data printed negative figures. The cable is currently trading around 1.5291 levels with overbought condition and a pullback towards 1.5250 levels can be expected. 
  
  
• The currency pair is set to consolidate above 1.5250 levels and move towards 1.5360 levels, as GPB/USD has found renewed buying interest in the short term. Therefore it's good to buy this pair around 1.5250 levels.
  
  
• To the upside, the strong resistance can be seen at   1.5294, a break above this level would expose the cable to next resistance level at 1.5352levels.
  
  
• To the downside immediate support can be seen at 1.5244, a break below at this level will open the door towards next level at 1.5198levels.
  
  Recommendation: Go long above 1.5250, targets 1.5320, 1.5360, SL 1.5200
  
  Resistance Levels
  
  R1:  1.5294 (38.2% Retracement level)
  
  R2: 1.5352 (23.6% Retracement level)
  
  R3: 1.5400 (Psychological level)
  
  Support Levels
  
  S1: 1.5244(50% Retracement level) 
  
  S2: 1.5198(61.8% Retracement level)
  
  S3: 1.5154 (Nov 17th lows)