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- RES 4: 1.5450
- RES 3: 1.5420 (23rd Oct 2015)
- RES 2: 1.5390 (20 day 4 HMA)
- RES 1: 1.5350 (trend lien resistance )
PRICE: 1.5340 @ 12:42 GMT
- SUP 1: 1.5305 (Oct 23rd low)
- SUP 2: 1.5280 (trend line support)
- SUP 3: 1.5260 (61.8% retracement of 1.5107 and 1.5506)
- SUP 4: 1.5200 (Oct 13th low)
GBP/USD has made a low of 1.53057 and slightly recovered from that level. It is currently trading at 1.5335.
The pair is facing trend line resistance around 1.5355 (trend line joining 1.55067 and 1.54190) and break above confirms minor bullishness, a jump till 1.5400/1.5435 is possible.
On the downside major support is around 1.5280 and any further weakness can be seen below that level. Break below 1.5280 will drag the pair till 1.5240/1.5200.
It is good to buy around 1.5330 with SL around 1.5300 for the TP of 1.5430/1.5450
