GBP/USD Short Term Outlook

FX:GBPUSD   British Pound / U.S. Dollar
208 0 0
GBP/USD             has retreated after making a high of 1.5350 and overall trend is bearish as long resistance 1.5350 holds.

On the upside minor resistance is around 1.5280 and any break of will target 1.5320/1.5351.

The pair’s short term support is around 1.5200 and break below will take the pair to 1.5160/1.5120.

Indicators (1hour chart)
CCI (50) - Sell
CCI (14)- Sell
Ichimoku- Sell

Recommendation: Sell GBP/USD             around 1.5280-85, SL 1.5351, Targets 1.5162/1.5121.

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