GBP/USD has retraced after making high of 1.57849 and intraday trend is positive as long 1.5650 (median line) holds.
In hourly chart CCI (50) has shown bearish divergence and decline has happened till 1.57138.
The break of 1.57135 will take the pair to 1.5680/1.5650.
The pair’s minor resistance is around 1.5760 and any indicative break will target 1.5825/1.5861 (50% retracement of 1.6181 and 1.5540).
CCI (50) - Buy
CCI (14) - Sell
Recommendation: Buy GBP/USD around 1.57090, SL 1.5650, Target 1.5825.
In hourly chart CCI (50) has shown bearish divergence and decline has happened till 1.57138.
The break of 1.57135 will take the pair to 1.5680/1.5650.
The pair’s minor resistance is around 1.5760 and any indicative break will target 1.5825/1.5861 (50% retracement of 1.6181 and 1.5540).
CCI (50) - Buy
CCI (14) - Sell
Recommendation: Buy GBP/USD around 1.57090, SL 1.5650, Target 1.5825.