Cable breaks short term trend line support, targets 1.5480

GBP/USD has broken short term trend line support 1.5575 and this confirms short term weakness, a decline till 1.5480 is possible.

On the downside minor support is around 1.5550 and break below targets 1.5530/1.5480 level in short term.

The pair’s strong resistance is around 1.5680 and break above will take the pair to 1.5750/1.5800 level.

The minor resistance is around 1.5600/1.5630/1.5650.

It is good to sell on rallies around 1.5600 with SL around 1.5650 for the TP of 1.5480