GBP/USD has formed Bullish divergence in daily chart and this confirms short term bounce back till 1.5100 cannot be ruled out.
GBP/USD has broken major support 1.4950 (Jan 23rd 2015 low) and declined till 1.4891. Any break below 1.4890 will drag the pair further down till 1.48124 (2013 low).
On the upside pair’s minor resistance is around 1.4985 and nay break above will target 1.5045/1.5100.
Short term bullishness only above 1.5150 level.
Recommendation: Buy GBP/USD around 1.4950, SL 1.4880, Target 1.5045/1.5095.
GBP/USD has broken major support 1.4950 (Jan 23rd 2015 low) and declined till 1.4891. Any break below 1.4890 will drag the pair further down till 1.48124 (2013 low).
On the upside pair’s minor resistance is around 1.4985 and nay break above will target 1.5045/1.5100.
Short term bullishness only above 1.5150 level.
Recommendation: Buy GBP/USD around 1.4950, SL 1.4880, Target 1.5045/1.5095.