Intraday outlook in GBPUSD has turned neutral at the moment, support comes at the 1.5510 levels ahead of the 1.5446 levels (main), stability above support levels will keep pushing upwards towards the 1.5637 levels, a halt is likely but a break would open 1.5730 next, further upside will recapture the 1.5815 levels.

On the downside, stability below the 1.5520 levels should weaken recent recovery and turn focus on main support 1.5446 , If 1.5446 gives away, expect further weakness towards the 1.5354 levels, further down will pave the way towards the 1.5275 levels.

In all, as long as 1.5510/1.5446 support holds on a 4 hour closing basis, the GBPUSD remains in recovery mode and further upside towards the 1.5640 levels couldn’t be ruled out , below 1.5446 faces a risk fall towards the 1.5354/1.5275 levels.

 

GBPUSD Daily Forecast May 21 2015

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