GBP/USD is trading in narrow range between 1.5585 and 1.5680 level for the past two trading session.
Short term trend is weak as long as minor resistance 1.5726 holds. On the upside break above 1.5726 will take the pair to 1.5760/1.5825.
The pair’s minor support is around 1.5585 and any break of would extend loss to 1.5500/1.5426 in short term.
Indicators (1 Hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell GBP/USD around 1.5680, SL 1.5726, Target 1.5580/1.5505.
Short term trend is weak as long as minor resistance 1.5726 holds. On the upside break above 1.5726 will take the pair to 1.5760/1.5825.
The pair’s minor support is around 1.5585 and any break of would extend loss to 1.5500/1.5426 in short term.
Indicators (1 Hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell GBP/USD around 1.5680, SL 1.5726, Target 1.5580/1.5505.