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- GBP/USD has recovered from the low of 1.5423 (Aug 7th low) till 1.5658 yesterday. Cable has once again retreated from that level.
- Overall trend is still weak as long as resistance 1.5690 holds.
- On the lower side minor support is around 1.5580 and any break below targets 1.5525/1.5480/1.5455 in short term.
- Any break above 1.5630 will extend gains till 1.5650/1.5690.
It is good to sell on rallies around 1.5650-60 with SL around 1.5690 for the TP of 1.5490/1.5465.
Resistance
R1- 1.5630
R2-1.5655
R3- 1.5690
Support
S1-1.5580
S2-1.5525
S3-1.5465
