GBP/USD pair made some gains after US core durables printed disappointing figures at -0.4 against the forecast of 0.1.The pair hit daily high at 1.5335 after the US data was released before retreating back to trade around 1.5331 levels. The pair has broken major support level at 1.5419 and is moving to test next support level at 1.5090 sooner or later in the coming days. Therefore it's good to sell this pair below 1.5380 levels.
- To the upside, the strong resistance can be seen at 1.5350, a break above this level would expose the cable to next resistance level at 1.5419.
- To the downside immediate support can be seen at 1.5304, a break below at this level will open the door towards next level at 1.5258.
Recommendation: Go short below 1.5380, targets 1.5300, 1.5250, SL 1.5470
Resistance Levels
R1: 1.5350 (61.8% Retracement level)
R2: 1.5419 (Oct 23rd high)
R3: 1.5503 (Oct 22nd high)
Support Levels
S1: 1.5304 (50% Retracement level)
S2: 1.5258 (38.2% Retracement level)
S3: 1.5200 (23.6% Retracement level)
