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Forex: GBP/USD consolidates above 1.5250

FXstreet.com (San Francisco) - After falling from 1.5315 to trade at intra-day lows at 1.5240, the GBP/USD has been trading in consolidation mode between 1.5250 and 1.5260 following the latest bearish movement. Currently the pair is trading at 1.5258.

With 0.30% daily losses, the Cable is trading slightly bearish according to the FXstreet.com's trend index. Indicators such as CCI, Momentum and MACD are pointing bearish while the Stochastic is bullish in the 1-hour chart.

On the downside, if GBP/USD falls below 1.5240, next supports are seen at 1.5200 (psychological level) and 1.5140 (20-day SMA), while on the upside, the pair has initial resistance at 1.5290/1.5300 followed by 1.5362 (Apr 5 high) and 1.5400 (psychological level).

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