FxWirePro
Short

GBP/USD is trading below 200 HMA,decline till 1.5000 is possible

FX:GBPUSD   British Pound/U.S. Dollar
197 0 2

•RES4: 1.55512 (Feb 26th high)

•RES3: 1.5340 ( 61.8% retracement of 1.5497 and 1.5080)

•RES2: 1.5217 (200 day HMA )

•RES 1: 1.5175 (55 day HMA )

PRICE: 1.5103@ 06:30 GMT            

•SUP 1: 1.5080 ( Bollinger lower band)

•SUP 2: 1.5030 ( 50% retracement of1.4564 and 1.5497 )

•SUP 3:1.54920 ( 61.8% retracement of 1.45648 and 1.5497)

•SUP4: 1.54855 ( Apr             21st low)

GBP/USD             has slightly recovered after making a low of 1.5080. Intraday trend is weak as long as resistance 1.5175 holds.

On the upside major resistance is around 1.5175. Any break above will take the pair till 1.5217/1.5260.

The pair's minor support is around 1.5100 and weakness can be seen below that level.

It is good to sell around 1.5120 for the target of 1.5000 with stop around 1.5175.






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