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Short

GBP/USD Short term outlook

FX:GBPUSD   British Pound/U.S. Dollar
212 0 1
•RES 4: 1.5061 ( 78.6% retracement of 1.5163 and 1.4687)

•RES 3: 1.49937 (Mar 26th high)

• RES 2: 1.4920 (Mar 27th high)

• RES 1: 1.4870 (200 day HMA )

PRICE: 1.4824@ 07:17 GMT            

•SUP 1: 1.4802 ( Apr             7th low)

•SUP 2: 1.4750 (Mar 30th low)

•SUP 3:1.46872 (Mar 19th low)

•SUP 4: 1.4634 (Mar 18th low)
Intraday trend -Bearish
GBP/USD             has formed triple top around 1.4980 and is struggling to break above that level. Short term trend is bearish as long as resistance 1.5000 holds.

It is good to sell on rallies around 1.4940 for the target of 1.4750 with stop around 1.5000.




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