Attached is the 1H chart for GBPUSD. As can be seen, like EU, GU is also showing a lot of strength. At this point of time, GU has lot of support at 1.52. As pointed out for EU, as the price goes down for GU, the volume also decreases which shows that the big buyers are not interested in lower prices.
For today, i dont see GU going below yesterdays low of 1.52 where there is huge support. Even if price dips lower, it will only be a place to buy more rather than sell.
For now, GU and EU are caught in small ranges due to strong supports and resistances but i favor longs in both and would buy dips.
For today, the strong support is at 1.52 and resistances are at 1.53 and then at 1.5350. If the resistance at 1.5350 is broken we should be aiming for 1.54 and then 1.55.
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