• GBP/USD has lost some ground to dollar to trade around 1.4898 levels in the early US session after failing to break minor resistance level located at 1.4929.
  
  
• The ongoing weakness is set to continue for this pair as the resistance level at 1.4953 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels, therefore its good to sell this pair around 1.4920 levels.
  
  
• To the upside, the strong resistance can be seen at 1.4953, a break above this level would expose the cable to next resistance level at 1.5000.
  
  
• To the downside immediate support can be seen at 1.4894, a break below at this level will open the door towards next level at 1.4860.
  
  Recommendation: Go short around 1.4920, targets 1.4870, 1.4800, SL 1.4980
  
  Resistance Levels
  
  R1:  1.4905 (50% Retracement level)
  
  R2: 1.4929 (Daily high)
  
  R3: 1.4953 (61.8% Retracement level)
  
  Support Levels
  
  S1: 1.4894 (Daily lows)
  
  S2: 1.4860 (38.2% Retracement level)
  
  S3: 1.4800 (23.6% Retracement level)