GBP/USD is facing resistance around 1.5815, good to buy at dips
•RES4: 1.6025 (100% projection of 1.4564 to 1.54997 from 1.50880)
•RES3:1.5855
•RES2: 1.5815 (161.8% retracement of 1.5746 and 1.50880)
•RES1: 1.5750 (161.8% retracement of 1.5497 and 1.50880)
PRICE: 1.5725@ 05:00 GMT
•SUP1: 1.5695 (61.8% Retracement of 1.5634 and 1.5813)
•SUP2: 1.5630 (May 13th low)
•SUP 3: 1.5590 (23.6% retracement of 1.5088 and 1.5746)
•SUP4:1.5530 (200 day HMA)
GBP/USD once again made a high of 1.5807 and is retreated from that level. Therefore GBP/USD has formed temporary top around 1.5185 and any further bullishness only above that level.
Technically GBP/USD major resistance around 1.5815 and any break will target 1.5815/1.6020 in short term.
Intraday minor support is 1.5695 and any break below will target 1.5630/1.5590.Intrady weakness only below 1.5695.
It is good to buy around 1.5725 for the target of 1.5815/1.5855 with stop around 1.5695.
•RES3:1.5855
•RES2: 1.5815 (161.8% retracement of 1.5746 and 1.50880)
•RES1: 1.5750 (161.8% retracement of 1.5497 and 1.50880)
PRICE: 1.5725@ 05:00 GMT
•SUP1: 1.5695 (61.8% Retracement of 1.5634 and 1.5813)
•SUP2: 1.5630 (May 13th low)
•SUP 3: 1.5590 (23.6% retracement of 1.5088 and 1.5746)
•SUP4:1.5530 (200 day HMA)
GBP/USD once again made a high of 1.5807 and is retreated from that level. Therefore GBP/USD has formed temporary top around 1.5185 and any further bullishness only above that level.
Technically GBP/USD major resistance around 1.5815 and any break will target 1.5815/1.6020 in short term.
Intraday minor support is 1.5695 and any break below will target 1.5630/1.5590.Intrady weakness only below 1.5695.
It is good to buy around 1.5725 for the target of 1.5815/1.5855 with stop around 1.5695.