GBP/USD currency pair is now testing the lower limit of both Violet and Yellow channels at 1.5640 which constitute a considerable intraday support level.
Bullish presence at 1.5640 is obvious indicating that the bulls are still intact. However breaking through 1.5640 allows bears to resume their pressure initiated yesterday at 1.5740.
The pair has an intraday resistance level at 1.5700-1.5710 which corresponds to the upper limit of the violet channel and the intermediate line of both yellow and blue channels.
The stronger Intraday resistance is located at 1.5750-1.5760 which corresponds to the upper limit of both blue and yellow channels.
SELLing at the previously mentioned resistance levels is recommeded with TP at 1.5700, 1.5650 and 1.5575 levels while the SL is to be located above the 1.5770 level.
