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- RES 4: 1.56885 (Jul 29th high)
- RES3: 1.56773 (Jul 31st high)
- RES 2: 1.56585 (Aug 13th high)
- RES 1: 1.56340 (50% retracement of 1.59277 and 1.53291)
PRICE: 1.55859 @ 11:58 GMT
- SUP 1: 1.5566 (200 day 4 HMA)
- SUP 2: 1.5530 (Aug 12th low)
- SUP 3:1.5480
- SUP 4: 1.5425 (Aug 7th low)
GBP/USD has made a high of 1.5658 on Aug 12th and started to declined from level. Overall trend is still bullish as long as support 1.5530 holds.
On the lower side minor support is around 1.5560 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 buy at dips around 1.5570 with SL around 1.5525 for the TP of 1.5650/1.5680.
