GBP/USD is trading highly volatile, weakness only below 1.5140

•RES4: 1.5585 (38.2% retracement of 1.7166 and 1.45648)

•RES3: 1.55512 (Feb 26th high)

•RES2: 1.5340 (61.8% retracement of 1.5497 and 1.5080)

•RES1: 1.5240 (200 day HMA)


PRICE: 1.5247@ 05:30 GMT

•SUP 1: 1.5140 (May 6th low)

•SUP2: 1.5080 (May 5th Low)

•SUP 2: 1.5030 (50% retracement of 1.4564 and 1.5497 )

•SUP 3:1.54920 (61.8% retracement of 1.45648 and 1.5497)

GBP/USD has recovered till 1.5290 after making a low of 1.5080. Intraday trend is bullish as long as support 1.5140 holds.

On the upside any break above 1.5250 will target 1.5300/15340 in short term.

It is good to buy only above 1.5210 for the target of 1.5340 with stop around 1.5140.