FxWirePro: GBP/USD key resistance at 1.5482, sell deals are recommended below 1.5460

>The cable has rebounded strongly from 1.5350 levels, after British wage data was released from UK in mid European session. The cable was further supported after the release of CPI figures from US market which infused further bullish momentum to the cable. However, the cable is set to flatter below 1.5482 resistance levels as the cable is trading in extremely overbought condition.

>To the upside, the strong resistance can be seen at 1.5455, a break above this level would expose the cable to next resistance level at 1.5482.

>To the downside immediate support can be seen at 1.5422, a break below at this level will open the door towards next level at 1.5400 levels.

Recommendation: Go short below 1.5460, targets 1.5400, 1.5380, SL 1.5510

Resistance Levels

R1:  1.5455 (September 15th high)

R2: 1.5482 (23.2% Retracement level)

R3: 1.5511 (Aug 27th high)

Support Levels

S1: 1.5422 (38.2% Retracement level)

S2: 1.5400 (Psychological level)

S3: 1.5371 (50% Retracement level)