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GBP/USD is trading below 200 day HMA, decline till 1.4650 is expected

Wednesday, April 8, 2015 6:13 AM UTC

RES 4: 1.5061 (78.6% retracement of 1.5163 and 1.4687)
RES 3: 1.49937 (Mar 26^th high)
RES 2: 1.4920 (Mar 27^th high)
RES 1: 1.4850 (200 day HMA)

PRICE: 1.4839@ 06:12 GMT

SUP 1: 1.4802 (Apr 7^th low)
SUP 2: 1.4750 (Mar 30^th low)
SUP 3:1.46872 (Mar 19^th low)
SUP 4: 1.4634 (Mar 18^th low)

Intraday trend -Bearish

GBP/USD is trading around 1.48330 after making a short term high of 1. term trend is bearish as long as resistance 1.4920 holds. Overall trend reversal can happen only above 1.5000.

It is good to sell on rallies around 1.4840 for the target of 1.4650 with stop around 1.4920.

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GBP/USD is trading below 200 day HMA, decline till 1.4650 is expected

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