GBP/USD has broken major support 1.5250-60 (200 day 4 HMA) and is trading well below that level. It should break 1.5180 (61.8% retracement of 1.4950 and 1.5512) for continuation of bear trend and below that it can reach till 1.5090/1.5050.
On the upside short term resistance is around 1.5300 and nay break of will target 1.5350/1.5380.
Indicators (4 hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell GBP/USD around 1.5260, SL 1.5300, Targets 1.5181/1.5105.
On the upside short term resistance is around 1.5300 and nay break of will target 1.5350/1.5380.
Indicators (4 hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell GBP/USD around 1.5260, SL 1.5300, Targets 1.5181/1.5105.
