Intraday quick look GBP/USD

Sterling’s sharp recovery from 1.4005 followed by a failure to take out rising trend line hurdle at 1.4171 seen on daily chart has left the doors open for a re-test of 1.407-1.4032-1.40 if the bird takes out falling trend line (small) support 1.4110 is breached.

On the other hand, a rebound of 1.4410 followed by break above 1.4141 (falling trend line [large]) would see spot re-test 1.4171. A violation there wud expose 1.42 handle.

15-minute chart

GBPUSD m15 (04-07-2016 0021).png

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