GBP/USD Short Term Outlook

FX:GBPUSD   British Pound / U.S. Dollar
299 0 3
GBP/USD             is trading weak (well below 200 day HMA ) and intraday bias is negative as long as resistance 1.5435 holds.

The pair is expected to reach around 1.5350/1.5330 in short term.

On the upside minor resistance is around 1.5435 and nay break above would extend gains to 1.5460/1.5505 in short term. Further bullishness can be seen only above 1.5550.

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

Recommendation: Sell GBP/USD             around 1.5400, SL 1.5440, Targets 1.5330/1.5305.

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