GBP/USD Short term Outlook

•RES 4: 1.5061 (78.6% retracement of 1.5163 and 1.4687)

•RES 3: 1.49937 (Mar 26th high)

• RES 2: 1.4920 (Mar 27th high)

• RES 1: 1.4866 (200 day HMA)

PRICE: 1.4840@ 07:12 GMT

•SUP 1: 1.4830 (20 day HMA)

•SUP 2: 1.4794 (61.8% retracement of 1.4751 and 1.4870)

•SUP 3:1.46872 (Mar 19th low)

•SUP 4: 1.4634 (Mar 18th low)

Intraday trend -Bearish

GBP/USD is trading around 1.48409 after making a short term low of 1.4750.Short term trend is bearish as long as resistance 1.4900 holds. Weekly trend is bearish as long as resistance 1.5165 holds.

It is good to sell on rallies around 1.4840 for the target of 1.4650.