GBP/USD breaks trend line support, targets 1.5630

Posted On 25 Jun 2015

GBP/USD breaks trend line support, targets 1.5630

GBP/USD has seen renewed selling interest at 1.5803 and overall trend remains weak for the decline till 1.5615 (61.8% retracement of 1.5422 and 1.5930).

It has formed temporary top around 1.5930 and any further bullishness can be seen only above that level.

The minor resistance is around 1.5730/1.5767. Short term major resistance is around 1.5803.

It is good to sell on rallies around 1.5725 with SL around 1.5770 for the TP of 1.5630/1.5615.

Source:: GBP/USD breaks trend line support, targets 1.5630

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