Since July 2014 GBPUSD dropped around 1600 pips from a high of 1.7190 to 1.5592. In last couple of weeks we have seen some buying interest at 1.5600 level and selling interest at 1.5825 level. I am expecting breakout of 1.5600 level and price heading towards 1.5500 level where I am expecting lot of buying interest and price could head all the way up to 1.5940 level and then a retrace back into 1.5850 level.

TARGET 1.5850


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