- GBP/USD has formed Bullish divergence in daily chart and this confirms short
term bounce back till 1.5100 cannot be ruled out.
- GBP/USD has broken major support 1.4950 (Jan 23rd 2015 low) and
declined till 1.4891. Any break below 1.4890 will drag the pair further down
till 1.48124 (2013 low).
- On the upside pair's minor resistance is around 1.4985 and nay break above
will target 1.5045/1.5100.
- Short term bullishness only above 1.5150 level.
Recommendation: Buy GBP/USD around 1.4950, SL 1.4880, Target
1.5045/1.5095.
