GBP/USD Short Term Outlook

FX:GBPUSD   British Pound / U.S. Dollar
233 0 0
GBP/USD             has broken major resistance 1.5270 after making a short term bottom around 1.4950. It is expected to go up till 1.5380-90.

On the downside short term weakness can be seen only below 1.5240 and break of will further drag the pair to 1.5160/1.5130. Overall weakness only below 1.5130.

It is good to buy at decline around 1.5300 for the target of 1.5385.

Indicators (4 Hour chart)
CCI (50) – Buy
CCI (14) - Buy
Ichimoku- Buy

Recommendation: Buy GBP/USD             around 1.5300, SL 1.5240, Target 1.5385/1.5420.

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