The GBP/USD has rebounded from 1.5360 levels, erasing the earlier losses, the sterling had declined earlier in the mid European market after the release of construction PMI which came in line with the forecast. In the meantime, the cable has advanced towards 1.5420 at the time of writing.
- The short term picture depicts further decline for this pair, as the RSI in the 4 hour chart is indicating downwards, the 55 MA pointing towards downwards and 30 and 20 MA is slightly bullish indicating short upward momentum. Overall the technical indicators are depicting overbought condition for the pair.
- To the upside, the strong resistance can be seen at 1.5510, a break above this level would expose the cable to next resistance level at 1.5565.
- To the downside immediate support can be seen at 1.5380, a break below at this level will open the door towards next level at 1.5330.
Resistance levels: 1.5440 1.5510 1.5565
Recommendation: Go short around 1.5450/1.5470, targets around 1.5400/1.5360, SL 1.5510


Narrow Range Drama in EUR/GBP: Bullish Bias Intact Above 0.8645
FxWirePro- Woodies Pivot
NZDJPY Bulls Hold the Line: Buy the Dip to 95?
FxWirePro:GBP/NZD gains some upside momentum but still bearish
FxWirePro: GBP/USD extends gain after positive UK retail sales data.
FxWirePro- Major Crypto levels and bias summary
FxWirePro: EUR/AUD outlook weaker on renewed downside pressure
FxWirePro: USD/CAD extends fall, eyes 1.3700 level
FxWirePro: USD/ZAR recovers slightly but bears are not done yet
USD/CHF Pares Gains After 4.4% GDP Blowout: Sell Rallies to 0.7860 Target
FxWirePro: EUR/NZD extends fall, vulnerable to more downside
FxWirePro: NZD/USD retreats slightly but trend is still bullish
FxWirePro- Major European Indices
FxWirePro: AUD/USD bulls undeterred, eyes 0.6900 level
FxWirePro: USD/ZAR outlook weaker on renewed downside pressure
AUDJPY Dips Met With Buyers: Bullish While 107 Holds Firm 



