Cable faces strong resistance around 1.5580, targets 1.5400

FX:GBPUSD   British Pound / U.S. Dollar
461 0 16
GBP/USD             formed a top at 1.5585 and declined from that level. Overall trend is still weak as long as temporary top 1.5585 holds.

In 4 hours chart cable has formed gravestone doji and this confirms short term weakness, a decline till 1.5400 cannot be ruled out .

On the higher side minor resistance is around 1.5535 and break above would extend gains till 1.5580/1.5630.

It is good to sell on rallies around 1.5500 with SL around 1.5535 for the TP of 1.5405.
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