The 15-minute GBP/USD has consolidated into a narrow trading range between resistance at 1.4787 (F) and 1.4772 (B) and support between 1.4729 (A) and 1.4722 (E). This sideways price action is confirmed by the flat moving average line and the 50 reading on the RSI both suggesting there is little to no momentum in this market at this time. Wait for prices to break higher or lower before assuming a follow-through in either direction. Keep in mind that the daily chart of the GBP/USD is still in a strong downtrend and that a bearish sentiment is the overall opinion of the pair. There is also significant intraday resistance at 1.4759 and 1.4809.
Chart date range11-Jun 03:45 GMT-> 14-Jun 21:30 GMT Data Interval15 Minutes
Target Level 1.470798
Target Period 2 hours
Stop Level 1.4772
Downward sloping Moving Average