GBP/USD has recovered till 1.4950 after making a low of 1.4630 in previous week. The pair’s minor resistance is around 1.4950-60 (Support turned into resistance). Any break above 1.4960 could pave way for next target 1.5050/1.5125.
Overall trend reversal can happen only if it closes above 1.5160 level.
On the downside minor support is around 1.4800 and any break below will drag the pair further down till 1.4690/1.4630.
Indicators (Weekly chart)
CCI (50) - Buy
CCI (14) - Buy
CCI (14)-Buy
Recommendation: Sell GBP/USD around 1.4935 SL 1.5051, Target 1.4655.
Overall trend reversal can happen only if it closes above 1.5160 level.
On the downside minor support is around 1.4800 and any break below will drag the pair further down till 1.4690/1.4630.
Indicators (Weekly chart)
CCI (50) - Buy
CCI (14) - Buy
CCI (14)-Buy
Recommendation: Sell GBP/USD around 1.4935 SL 1.5051, Target 1.4655.