GBP/USD - Potential False Breakout of The Resistance at 1.5490?
GBP/USD has breached the resistance at 1.5490 (29/04/2015 high), but has thus far failed to hold above it, suggesting a potential false breakout. Hourly support lies can be located at 1.5407 (intraday low). Another strong resistances can be found at 1.5552 (26/02/2015).
In the longer-term, the break of the strong support at 1.4814 opens the way for further medium-term weakness towards the strong support at 1.4231 (20/05/2010 low). Key resistance stands at 1.5552 (26/02/2015 high).