GBPUSD: has recovered in the last two days, it has returend above it’s key resistance of 1.5470,. The upward pressure would push the currency to the next resistance of 1.5996 level. This is Aug 08 high. It is breaks this level it could recover further pushing towards 1.6274 the high of Jan 24. But trade with caution as liuidity is still low.
Instead on the downside an immediate support lies at 1.5470 and if it breaks below, the next support is 1.5371 the 200 moving average.
Trade with caution as the MACD is crossing the 0 line
GBP 26082010.jpg
JP
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