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Forex: GBP/USD's retracement tests 1.5250

FXstreet.com (San Francisco) - The GBP/USD's recovery from 1.5195 was capped at 1.5285, intra-day high, where the pair has started a downside movement that currently is testing the 1.5250 level. At this moment, the pair is trading at 1.5255, 0.23% below opening price.

The Cable is slightly bearish according to the FXstreet.com's trend index. Indicators such as CCI and Momentum are pointing lower while the MACD is neutral and the Stochastic is bullish in the 15-minute timeframe.

Below the 1.5250, next support levels line up at 1.5190 (38.2% of 1.4832-1.5412) ahead of 1.5188 (Mar lows) and then 1.5122 (50% of 1.4832-1.5412). On the flip side, a break above 1.5301 (MA10d) would bring 1.5370 (high Apr.17) and then 1.5386 (high Apr.15).

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