GBP/USD is consolidating between narrow range, waiting for further confirmation signals

• RES 4: 1.5165
  
  
• RES 3:   1.5050
  
  
•  RES 2: 1.4981 (61.8% retracement of 1.5163 and 1.46872)
  
  
•  RES 1: 1.4900 (200 day Hourly EMA)

    PRICE: 1.48887 @ 5:45GMT 

• SUP 1: 1.4832 (200 day HMA)
  
  
• SUP 2: 1.4747
  
  
• SUP 3:1.4687 (19^th Mar low)
  
  
• SUP 4: 1.4634

Major Events for the day

UK Retail sales (9:30 GMT)

US Jobless claims (12:30 GMT)

Commentary:

GBP/USD is struggling to break psychological resistance 1.5000 and has retreated from that level. Overall trend is bearish as long as 1.5000 holds.

Short term trend is weak and is expected to reach 1.4634 year low. Overall bearish invalidation can happen only if closes above 1.5165 level.