Forex: GBP/USD finds support at 1.5475, back to test 1.5500 region

FXstreet.com (San Francisco) - After being rejected by the 1.5515 intra-day high area, the GBP/USD traded lower to test the bottom of the current range at 1.5475 where the pair has found support and it has begun to rise again. At this moment, the cable is testing the 1.5500 area.

The GBP/USD has been trading sideways between 1.5475 and 1.5505 in the last two days.

The GBP/USD is currently flat on the day but pair remains slightly bullish according to the FXstreet.com trend index. Indicators such as Momentun and MACD are bearish while the CCI is bullish and the Stochastic is neutral in the 15-minutes chart.

Above the 1.5500 level, next resistances are at the mentioned 1.5515 and the 1.5540 area. On the downside, supports are art 1.5475, 1.5430 and 1.5420.