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GBP/USD has declined till 1.5301 after release of weaker than expected U.K GDP.
- UK 3Q15 GDP rose 0.5%QoQ compared to forecast of 0.6% which leaves the annual rate of growth at 2.3%YoY.
- Cable recovered after making a low of 1.53014 and it is currently trading at 1.53470. Overall trend is still bullish as long as support 1.5300 holds.
- Any weakness can be seen only below 1.5300 level.
- On the higher side major resistance is around 1.5380 and break above targets 1.5435/1.5450.
It is good to buy at dips around 1.5340-45 with SL around 1.5300 for the TP of 1.5400/1.5435
