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GBP/USD is struggling to break above 1.4936, decline till 1.4680 is possible

Thursday, April 16, 2015 8:42 AM UTC

RES 4: 1.5165
RES 3: 1.5000
RES 2: 1.4936 (61.8% retracement of 1.5165 and 1.4564)
RES 1: 1.4880 (61.8% retracement of 1.4975 and 1.4565)

PRICE: 1.4825@ 08:31 GMT

SUP 1: 1.4780 (200 day HMA)
SUP 2: 1.4732 (Cloud top)
SUP 3:1.4683 (Cloud bottom)
SUP 4: 1.4565 (Apr 13^th low)

GBP/USD has recovered till 1.4880 after making a low of 1.5640. It is facing resistance around 1.4936 and slight intraday trend reversal can happen only above that level.

It is good to sell around 1.4880 with stop around 1.4936 for the target of 1.4650.

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GBP/USD is struggling to break above 1.4936, decline till 1.4680 is possible

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