15/05 GBPUSD eyes on 1.5680 level


TECHNICAL DAILY OUTLOOK – GBPUSD 15th of May (5:13GMT)

OVERBOUGHT. EYES ON 1.5680

During the USA session of yesterday, thanks to the deflation-style prints from the USA Bureau of Statistics (the opposite of inflation will not help to argue about possible upcoming interest rates hike), GBP/USD tried 1.58.

Yesterday we individuated sideways moves that can accompany the falling quotes down to 1.5625, first, and 1.5550-1.5530, eventually (depending on the inflation prints from the USA). Today we can confirm 1.5625 as important support and 1.5680 as the early one.

GBPUSD 15th of May GBPUSD 15th of May – D1 (Chart time 5:13GMT)

GBPUSD 15th of May GBPUSD 15th of May – H4 (Chart time 5:13GMT)

Author: Simone Ambrogio

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