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Long

GBP/USD Short Term outlook

FX:GBPUSD   British Pound/U.S. Dollar
183 0 0
•RES4: 1.5643 (161.8% projection of 1.4640 to 1.5052 from 1.4855)

•RES3: 1.5585 (38.2% retracement of 1.7166 and 1.45648)

•RES2: 1.55512 (Feb 26th high)

•RES1:1.54399 (88.6% retracement of 1.5512 and 1.4564)

PRICE: 1.5420@ 04:41 GMT

•SUP 1: 1.5420 (20 day HMA)

•SUP 2 : 1.5350 (55 day HMA)

•SUP 2: 1.5260 (Resistance turned into support)

•SUP 3:1.5160 (23.6% retracement of 1.45648 and 1.5345)

GBP/USD             has made a high of 1.5497 and retreated from that level. Intraday trend is bullish as long as support 1.5350 holds.
On the upside major resistance is around 1.5512. Any break above will take the pair till 1.5583/1.5640.
It is good to buy at dips around 1.5400 for the target of 1.5640 with stop around 1.5345.



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