GBP/USD takes support near Kijun-sen, good to buy at declines

•RES4: 1.5585 (38.2% retracement of 1.7166 and 1.45648)

•RES3: 1.55512 (Feb 26th high)

•RES2: 1.54399 (88.6% retracement of 1.5512 and 1.4564)

•RES1: 1.5397 (Tenken sen)

PRICE: 1.535@ 05:53 GMT

•SUP 1: 1.5300 (Kijun-Sen)

•SUP 2: 1.5260 (Resistance turned into support)

•SUP 3:1.5160 (23.6% retracement of 1.45648 and 1.5345)

•SUP4: 1.5100


GBP/USD has formed double top around 1.5500 and retreated from that level. This confirms it has formed temporary top around 1.5500 and any further bullishness only above that level.

On the upside major support is around 1.5250. Any break below will take the pair till 1.5160.

It is good to buy at dips around 1.5320 for the target of 1.5480 with stop around 1.5245.