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GBP/USD is struggling to close above 1.500, decline till 1.4795 is possible

  • RES 4: 1.5165 (Mar 18th high)

  • RES3: 1.5050 (Apr 17th high)

  • RES 2: 1.5000

  •  RES 1: 1.4932 (Cloud bottom)

     PRICE: 1.48699@ 05:54 GMT 

  • SUP 1: 1.4864 (38.2% retracement of 1.4564 and 1.5052)

  • SUP 2: 1.4795 (200 day 4HMA)

  • SUP 3:1.4715 (61.8% retracement of 1.4969 and 1.4564)

  • SUP 4: 1.46025 (Apr 14th low)

GBP/USD is weak and is trading well below ichimoku cloud (tenken-Sen and Kijun-Sen) and this confirms intraday weakness a decline till 1.4795 cannot be ruled out.

The short term bullishness can be seen only above 1.4930. It is to good to sell around 1.4925-30 with stop around 1.5000 for the target of 1.4795.

 

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