GBPUSD Bearish sentiment, Test Area 1.5220

The bias for GBPUSD still likely bearish movement, especially for the price below MA 50-100-200 signal in the 4 hours chart. Signals from other indicators also supports the bearish bias as the MACD indicator which is well below the midline and Stochastic has crossed and head down.

To the downside, immediate support seen at 1.5220 area, breaking down of these areas has the potential to continue the bearish price to test the 1.5110 area, back through to the bottom of the zone could move prices down further towards 1.5030 area. For the upside, closest resistance levels seen at 1.5370 area, breaking through to the top of the region the price is likely to move the neutral line instructions least in the short run to test the 1.5490 area before targeting to an area of strong resistance at 1.5560.

Resistance levels: 1.5370, 1.5490, 1.5560
Support levels: 1.5220, 1.5110, 1.5030