GBP/USD Short Term Outlook

FX:GBPUSD   British Pound / U.S. Dollar
228 0
GBP/USD has broken short term resistance 1.5300 after BOE Governor Carney said that the inflation is expected to fall below zero in the coming months due to weak oil price and BOE will cut interest rates if inflation falls into negative territory.

On the upside break above 1.5350 will take the pair to 1.5420/1.54910( 61.8% Retracement of 1.5825 and 1.4950).

The pair’s minor support – 1.5270 and break below will target 1.5240/1.5200.

Indicators (4 hour chart)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy

Recommendation: Buy GBP/USD around 1.5320, SL 1.5265, Targets 1.5418/1.5500.

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