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GBP/USD breaks major support 1.5630, decline till 1.5525 is possible

RES4: 1.5725 RES4: 1.5678 (61.8% retracement of 1.5813 and 1.5441) RES3:1.5630 (Support turned into resistance) RES2: 1.5544 (55 day HMA) PRICE: 1.56391@ 11:52 GMT SUP1:1.5600 (55 day H EMA) SUP 2: 1.5535 (Trend line sup…

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  • RES4: 1.5725
  • RES4: 1.5678 (61.8% retracement of 1.5813 and 1.5441)

  • RES3:1.5630 (Support turned into resistance)

  • RES2: 1.5544 (55 day HMA)

 PRICE: 1.56391@ 11:52 GMT 

  • SUP1:1.5600 (55 day H EMA)

  • SUP 2: 1.5535 (Trend line support
  • SUP3: 1.5490 (trend line support)
  • SUP2: 1.5441 (May 19th low)



GBP/USD has broken short term support 1.5630 and this confirms short term weakness, a decline till 1.5530 cannot be ruled out

On the higher side it is facing resistance around 1.5700 and break above would extend gains till 1.5750/1.5805 in short term. 


Sell only below 1.5630 with stop around 1.5701 for the target of 1.5525.

 

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