GBP/USD Technical Analysis

(1,5326) The CABLE confirmed a session of consolidation with a small negative closing. We have now 1,5390 – 1,5135 the levels to follow in the coming hours. A daily closing above 1,5390 will support further strength suggesting a possible retest of the 1,56 area!! The indicators of the daily chart are still well positive and this morning also those of the s/t ones are still in positive territory supporting further strength. However the move up still missed to form divergences suggesting the move up is only an overshooting!! Only an hourly closing below 1,5270 will postpone further strength resuming the decline! We keep staying short for now

Read the full report: GBPUSD 06.05

 

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