GBP/USD Short Term outlook

FX:GBPUSD   British Pound / U.S. Dollar
216 0 2
•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: 1.4850 (200 day HMA )

PRICE: 1.4839@ 06:12 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             is trading around 1.48330 after making a short term high of 1.4980.Short term trend is bearish as long as resistance 1.4920 holds. Overall trend reversal can happen only above 1.5000.

It is good to sell on rallies around 1.4840 for the target of 1.4650 with stop around 1.4920.

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