GBPUSD faces strong support at 1.5200, break below targets 1.500
Cable is trading between 1.5288 and 1.5200 for the past two trading session. Intraday trend is weak as long as resistance 1.5260 holds.
The pair’s major support is around 1.5200 and any intraday weakness can be seen only below that level. Break below will drag the pair further down till 1.5160/1.5000.
On the higher side minor resistance is around 1.5280 and break above would extend gains till 1.5310/1.5380.
Overall bearish invalidation only above 1.5420.
It is good to sell only below 1.5200 with SL around 1.5250 for the TP of 1.5140/1.5005
The pair’s major support is around 1.5200 and any intraday weakness can be seen only below that level. Break below will drag the pair further down till 1.5160/1.5000.
On the higher side minor resistance is around 1.5280 and break above would extend gains till 1.5310/1.5380.
Overall bearish invalidation only above 1.5420.
It is good to sell only below 1.5200 with SL around 1.5250 for the TP of 1.5140/1.5005