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Short

Cable faces strong resistance at 1.5160, good to sell on rallies

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
316 0 6
Major trend reversal level – 1.5160 (Support turned into resistance)

Any further bullishness can be seen only above 1.5160 levels. Break above 1.5160 will take the pair to next level 1.5200 ( trend line joining 1.54960 and 1.53350)/1.5220.

On the lower side major support is around 1.5080 and break below targets 1.0530/1.5000/1.4980 level.

It is good to sell on rallies around 1.5095-5100 with SL around 1.5160 for the TP of 1.5000/1.4980
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