GBPUSD Trade Idea

Cable is trading between 1.5288 and 1.5200 for the past two trading session. Intraday trend is weak as long as resistance 1.5260 holds.

• The pair's major support is around 1.5200 and any intraday weakness can be seen only below that level. Break below will drag the pair further down till 1.5160/1.5000.
• On the higher side minor resistance is around 1.5280 and break above would extend gains till 1.5310/1.5380.
• Overall bearish invalidation only above 1.5420.

It is good to sell only below 1.5200 with SL around 1.5250 for the TP of 1.5140/1.5005

Resistance

R1- 1.5280

R2-1.5310

R3- 1.5380

Support

S1-1.5200

S2-1.5150

S3-1.5000