Cables trades below 1.5500, targets 1.5400

FX:GBPUSD   British Pound / U.S. Dollar
371 0 4
GBP/USD             has recovered from yesterday’s low of 1.54657 and jumped till 1.5543 in Asian session.

Overall trend is still weak as long as resistance 1.5550 (20 day 4HMA) holds. Any intraday bullishness only above 1.5550. Break above would extend gains till 1.5580/1.5630 in short term.

The pair’s minor resistance is around 1.5525 and break will take the pair till 1.5550.

On the downside minor support is around 1.5480 and break below will target 1.5455/1.5380 in short term.

It is good to sell on rallies around 1.5495 with SL around 1.5530 for the TP of 1.5450/1.5390
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