GBP/USD has taken support at psychological level 1.5500 and is recovering from that level. Overall trend is bullish as long as support 1.5500 holds.
The pair’s minor resistance is around 1.5760 (trend line joining 1.65235 and 1.61816) and any break of would extend gain to 1.5824 (Nov 27th High) and 1.5945 in short term.
The minor support is around 1.5650 and any break of would target 1.5580/1.5500.
Recommendation: Buy GBP/USD around 1.5670-80, SL 1.5500, Target 1.5945.
The pair’s minor resistance is around 1.5760 (trend line joining 1.65235 and 1.61816) and any break of would extend gain to 1.5824 (Nov 27th High) and 1.5945 in short term.
The minor support is around 1.5650 and any break of would target 1.5580/1.5500.
Recommendation: Buy GBP/USD around 1.5670-80, SL 1.5500, Target 1.5945.