GBP/USD key resistance at 1.5222, bearish in the short term

FX:GBPUSD   British Pound / U.S. Dollar
365 0 5
The GPB/USD pair has erased its earlier gains after briefly hitting high at around 1.5148 levels, however the pair found selling interest after the US session opened. The pair continues to remain in bearish tone ahead of economic data release from UK which will release average earnings index, claimant count change on Wednesday. If the the figures print positive reading, the cable will likely make a short pullback towards higher levels.

Technically the RSI in the 4 hour chart is indicating downwards, and the 55, 30 and 20 MA’s are also pointing towards downwards. Overall the technical indicators are depicting further downtrend for this pair.

To the upside, the strong resistance can be seen at 1.5222, a break above this level would expose the cable to next resistance level at 1.5280.

To the downside immediate support can be seen at 1.5084, a break below at this level will open the door towards next level at 1.5025.

Recommendation: Go short around 1.5155/1.5180, targets around 1.4960/1.4940, SL 1.5280

Support levels: 1.5084 1.5025 1.4972

Resistance levels: 1.5156 1.5222 1.5281
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out