Technical outlook and chart setups:
The GBP/USD pair is seen to be unchanged from yesterday trading around 1.5325 now. The pair might reach a lower high of 1.5383, which is also the fibonacci 0.382 resistance, but still could be pushed through 1.5425 before reversing lower again. It is hence recommended to remain flat and look to re-enter shorts at higher levels. Immediate support is seen at 1.5200 levels, followed by 1.5100 and lower, while resistance is seen at 1.5500 followed by 1.5650 and higher respectively.
Remain flat and look for an opportunity to sell around 1.5420 again.
The material has been provided by InstaForex Company – www.instaforex.com