- GBP/USD broke resistance Level at 1.5740 and is bouncing above to reach the next resistance level at 1.5811.
- Markets are choppy as negotiations between Greece and its creditors failed with no solution in sight as if now, Time is running out for cash strapped Greek to reach a deal by Tuesday, By paying 1.5billion Euro to IMF. Or else it runs into risk of going default which gradually may force Greece out of Eurozone.
- Later in the day Investors are looking forward to speech by BoE Governor Marke Carney to know Bank of England's next monitory policy actions.
- Major resistance is seen at 1.5811, a break above at this level will open the door to 1.5856 level. To the downside,immediate support can be seen at 0.9277.
Recommendation: Go long above 0.7740, targets 0.7780, 0.7810, SL 0.7610
Resistance Levels
R1: 1.5778
R2: 1.5811(61.8% Retracement level)
R3: 1.5856
Support Levels
S1: 1.5717
S2: 1.5677 (June 25th lows)
S3: 1.5625
