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)
Commentary:
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
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)
Commentary:
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