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Forex: GBP/USD tests back the 1.5300

FXstreet.com (San Francisco) - Following the 100 pips decline from the 1.5375 area to find support at the 1.5275 level in the early American session, the GBP/USD was trading sideways between 1.5280 and 1.5295.

At this moment, the cable is 0.40% negative on the day. However, it seems that the GBP/USD is testing back the 1.5300 area as the pair is slightly bullish according to the FXstreet.com trend index. Indicators such as CCI and Momentum are pointing to the north while the Stochastic is bearish and the MACD is neutral in the 15-minutes chart.

On the upside and above the 1.5300 area, a surpass of 1.5407 (MA21d) would open the door to 1.5447 (low May 7) and finally 1.5471 (low May 8). On the downside, next support is at 1.5200 (23.8% of Feb-Apr slide) ahead of 1.5075 (low Feb.25) and then 1.5028 (low Mar.20).

Forex: GBP/JPY remains below 156.00

After being rejected by the 153.75 strong resistance, the GBP/JPY was trading lower in the American session with the pair breaking down the 156.00 area to find support at the intra-day low at 155.55. After that, the GBP/JPY was trading sideways between 155.75 and 155.90.
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