GBP/USD Short term Outlook

FX:GBPUSD   British Pound / U.S. Dollar
203 2 0
RES 4: 1.5165

RES 3: 1.5050

RES 2: 1.4981 ( 61.8% retracement of 1.5163 and 1.46872)

RES 1: 1.4900 (200 day Hourly EMA )

PRICE: 1.48887 @ 5:45GMT

SUP 1: 1.4832 (200 day HMA )

SUP 2: 1.4747

SUP 3:1.4687 (19th Mar low)

SUP 4: 1.4634

Major Events for the day

UK Retail sales (9:30 GMT             )
US Jobless claims (12:30 GMT             )


GBP/USD             is struggling to break psychological resistance 1.5000 and has retreated from that level. Overall trend is bearish as long as 1.5000 holds.

Short term trend is weak and is expected to reach 1.4634 year low. Overall bearish invalidation can happen only if closes above 1.5165 level.

Sell GBP/USD             around 1.4920, SL 1.5000, Targets 1.4800/1.4741
nice, but The price still above Fibonacci 23.6%.
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