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- RES4: 1.5525 (200 day HMA)
- RES3:1.5487 (38.2% retracement of 1.5698 and 1.5350)
- RES 2: 1.5430 (Cloud bottom)
- RES1: 1. 53850 (55 day H EMA)
PRICE: 1.5359@ 06:08 GMT
- SUP1: 1.5350 (May 8th high)
- SUP2: 1.5325 (38.2% retracement of 1.4600 and 1.51822)
- SUP 3 : 1.5250
- SUP 4: 1.5190 (50% retracement of 1.4564 and 1.5813)
GBP/USD has broken major support 1.5350 and this confirms short term bearishness, decline till 1.5250 is possible.
On the upside minor resistance is around 1.53850 and any break above would extend gains till 1.5430/1.5470 in short term.
It is good to sell on rallies around 1.5380 with SL 1.5430 for the TP 1.5305/1.5270.
