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GBP/USD Short Term Outlook

FX:GBPUSD   British Pound / U.S. Dollar
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GBP/USD has broken major support 1.4693 after release of UK Jobs data. Pound got beaten up mainly due to weaker than expected wage growth (3 month YY +1.8% Vs +2.2% exp Vs +2.1% prev).

The break of 1.46983 confirms continuation of bearish trend and decline till 1.4450 cannot be rule out.

The pair’s short term resistance is around 1.4775 and any break above would extend gain till 1.4850/1.4900.

On the downside support is at 1.4650 and below will drag the pair further down till 1.4450.

Indicators (4 hour chart)

CCI (50) – Sell

CCI (14) – Sell

Ichimoku-Sell

Recommendation: Sell GBP/USD around 1.4680, SL 1.4775, Target 1.4450.



how can i save this ?
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Recommendation sounds good... :)
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Too late now I'm long
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