GBPUSD: Recovers,Tests The key Resistance 1.5637 !

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forex UK min
forex UK min

Intraday outlook in GBPUSD has turned neutral at the moment, a short term support has been printed at the 1.5446 levels, stability above this level on a 4 hour closing basis could push the pair further higher towards the 1.5637 levels , a halt is very likely , but a breach will retake the 1.5730/1.5815 levels.

On the downside, support comes at the 1.5446 levels, a cut through the 1.5446 levels will reverse risk to the downside towards the 1.5400/1.5354 levels, further down will look for the 1.5275 levels.

In all, as long as 1.5446 support holds on a 4-hour closing basing basis, the GBPUSD remains in recovery mode and further upside towards the 1.5637 levels couldn’t be ruled out in the upcoming hours, below 1.5446 will reverse risk towards the 1.5400/1.5354 levels.

If you wanna risk a bit, you may long GBPUSD around 1.5520 levels, stop(10/20 pips) below 1.5392, target 1 at: (1.5640), target 2 at: (1.5740), target 3 at: (1.5815)……..

 

GBOUSD_H4_May_20_2015

MARKET DATA

UPCOMING ECONOMIC EVENTS