Description
⋅ GBP/USD has broken short term support around 1.5030 and it expected to reach 1.4825 in short term.
GBP/USD is trading weak ahead of retail sales data which is to be released today.
On the upside 1.5030 (Support turned into resistance) is acting as minor resistance and break above will target 1.5090/1.5161 in short term.
The pair’s support is around 1.4919 and below will take the pair to 1.5825.
Indicators (4 Hour chart)
CCI (50) - Sell
CCI (14) - Sell
Ichimoku- Sell
Recommendation: Sell GBP/USD around 1.5010, SL 1.5060, Targets 1.4919/1.4825 .