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GBP/USD breaks 200 day HMA, decline till 1.5250/1.5170 is possible

  • RES 3: 1. 5430 (May 27th high)

  • RES 3: 1.5380 (Jun 3rd high)

  • RES 2: 1. 5350 (20 day HMA)

  • RES1: 1.5325 (Support turned into resistance)


 PRICE: 1.53026@ 10:55 GMT 

  • SUP 1: 1.5300 (May 27th low)

  • SUP2 : 1.5250 (Jun 3rd low)

  • SUP3:  1.5169 (Jun 1st  low)

  • SUP4: 1.5080 (May 5th low)         

GBP/USD has made a high of 1.5430 and retreated from that level.

It has broken major intraday support 1.5320 and this confirms short term bearishness , a decline till 1.5255 cannot be ruled out . 

It is good to sell GBP/USD around 1.5320 with SL of 1.5355 for the TP of 1.5255/1.5175.

 

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