FxWirePro: GBP/USD key resistance at 1.5412, sell deals are recommended below 1.5400

>The Cable has slipped below 1.5400 levels, after breaking strong support level at 1.5412. The pair is set to flatter further towards 1.5250 levels in the short term, as there is strong bearish momentum below 1.5412 61.8% fib levels. The Cable has to close above 1.5412 (61.8% Retracement Level) in order find any bullish momentum, unless until the trend remains bearish for this pair. Therefore it's good to sell this pair on rallies.

>Currently the cable is trading round 1.5378 levels, it is set to decline further towards 1.5300 later towards 1.5250 levels in the short term.

>To the upside, the strong resistance can be seen at 1.5412 (61.8% Retracement Level), a break above this level would expose to cable to next resistance level at 1.5456 (Sep 15th high).

>To the downside immediate support can be seen at 1.5362 (50% Retracement Level), a break below at this level will open the door towards 1.5304 (61.8% Retracement Level).

Recommendation: Go short below 1.5400, targets 1.5300, 1.5250, SL 1.5480

Resistance Levels

R1: 1.5412 (61.8% Retracement Level)

R2: 1.5456 (Sep 15th high)

R3: 1.5477 (Sep 10th high)

Support Levels

S1: 1.5362 (50% Retracement Level)

S2: 1.5337 (Sep 10th lows)

S3: 1.5304 (61.8% Retracement Level)