Gbpusd has broken rising wedge pattern. After breakout, this pattern gives bearish signal. So we can expect down rally on this pair. Stop loss should be above this wedge pattern at 1.5500 level. 1st target will be 1.5270 area and then 1.5000 level. We can wait for little retracement for taking sell entry. 1.5460-.15480 level is strong resistance for this pair. So our recommendation is to sell from resistance level on gbpusd.
Weekly Pivot, Support and Resistance
Resistance Two (R2): 1.5559
Resistance One (R1): 1.5477
Pivot Point: 1.5396
Support One (S1): 1.5314
Support Two (S2): 1.5233
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