- RES 4: 1.4800 (200 day HMA)
- RES 3: 1.4770 (50% retracement of 1.4980 and 1.4564)
- RES 2: 1.4700
- RES 1: 1.4662 (20 day HMA)
PRICE: 1.4670@ 12:20 GMT
- SUP 1: 1.45650
- SUP 2: 1.44431 (138.2% retracement of 1.46430 and 1.5165)
- SUP 3:1.4306 (161.8% retracement of 1.46340 and 1.5165)
- SUP 4: 1.4225 (May 2010 low)
Intraday trend -Bearish
GBP/USD has retreated after making a high of 1.46910 after release of UK CPI data.
The 0NS reported annualised March CPI at -0.01% to two decimal places and that's a first negative reading for the UK.
Short term trend is bearish has long as resistance 1.4735 holds.
It is good to sell on rallies around 1.4661 for the target of 1.4310 with stop around 1.4735.
