The Bullish presence around 1.5600 prevented further decline of the pair and pushed the pair above towards 1.5740.
The GBP/USD has an established downtrend line which corresponds to level 1.5740 being tested today.
The pair has a confluence area at 1.5740-1.5750 corresponding to 61.8% and 38.2% Fibonacci levels of the depicted swings.
This area is considered a good SELL ENTRY to benefit from an expected swing to the downside.
The targets for this SELL-deals are located at 1.5700, 1.5650 and 1.5575 levels while the SL is to be located above the 1.5870 level.
