GBP/USD Technical Analysis comments :
A strong bullish movement occured on the pair GBP/USD which broke the support at 1.5891 (level 23.60%). So, a sell signal has been given. Currently, the pair is testing the next support at 1.5787 (level 38.20%). We maintain to trade only short positions as far as 1.5891 is resistance. The breakout of 1.5787 will give a new sell signal. The next support is at 1.5703 (level 50%). However, if 1.5891 gets back as support, we could trade long positions.