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- RES4: 1.5630 (Support turned into resistance)
- RES4: 1.5580(13 and 1.5441)
- RES3:1.5525 (Cloud top)
- RES2: 1. 5460 (20 day HMA)
PRICE: 1.56391@ 06:14 GMT
- SUP1: 1.5441 (May 19th low)
- SUP 2: 1.5390 (May 11th high)
- SUP3: 1.5350 (May 8th high)
- SUP4: 1.5325 (38.2% retracement of 1.4600 and 1.51822)
GBP/USD has broken short term support 1.5440 and this confirms short term weakness, a decline till 1.5350 cannot be ruled out
On the higher side it is facing resistance around 1.5530 and break above would extend gains till 1.5580/1.5630 in short term.
It is good to sell on rallies around 1.5500 with stop around 1.5580 for the target of 1.5355.
