GBP/USD is trading near major resistance 1.5200 and pullback till 1.5270-300 cannot be ruled out.
I
ntraday trend reversal can happen only below 1.5120-30 (Ichimoku cloud top) and break below ill target 1.5080/1.5000.
On the upside any break of 1.5270 will take the pair to 1.5367/1.5402. It has formed short term bottom around 1.4950 and further decline in GBP/USD will happen only below 1.4950.
Indicators (4 Hour chart)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy
Recommendation: Buy GBP/USD around 1.5180, SL 1.5100, Targets 1.5270/1.5315.
I
ntraday trend reversal can happen only below 1.5120-30 (Ichimoku cloud top) and break below ill target 1.5080/1.5000.
On the upside any break of 1.5270 will take the pair to 1.5367/1.5402. It has formed short term bottom around 1.4950 and further decline in GBP/USD will happen only below 1.4950.
Indicators (4 Hour chart)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy
Recommendation: Buy GBP/USD around 1.5180, SL 1.5100, Targets 1.5270/1.5315.
