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FxWirePro: GBP/USD approaching to test support level at 1.5550, sell deals are recommended

 


  • The cable is trading at 1.5570 levels, immediate support can be seen at 1.5550. A break below this level will expose the pair to next support level at 1.5498.
  • Major resistance can be found at 1.5603, a break above this level will expose the cable towards 1.5650 levels.   

Recommendation: Go short below 1.5580, targets 1.5540, 1.5500, SL1.5670.


Resistance Level

R1: 1.5603 (61.8% Retracement level of 1.5769 to 1.5330)                             

R2: 1.5629 (July 14th high)             

R3: 1.5644 (July 3rd high)

Support Levels

S1: 1.5550

S2: 1.5498 (38.2% Retracement level)    

S3: 1.5451            

 

  • Market Data
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