GBPUSD: Key Support To Cap Downside Pressure

GBPUSD: GBP sold off strongly the past week leaving risk of more declines. However, we think while its key support at the 1.5329 level holds as support a move higher on recovery should occur. We look to buy on recovery at the following levels

Strategy: Buy at 1.5375, Stop loss at 1.5303, Price target at 1.5475 & 1.5570