Rate struggles to track EURO higher; fails at resistance to make lows in New York after follow-on buying dries up and EURO/GBP cross reaches new lifetime high.

Toolbox signals a trend sell; aggressive traders can short the rate for the pullback to possibly test the breakout from 1.5050 area. Spillover from EURO no doubt. Lows holding at 1.5200/10 area likely has stops below. Stops cleared above Tuesday highs cleared with sellers taking a stand at 1.5700 area.

Cross-spreaders likely keeping pressure on as GBP/EURO cross holds near lifetime high. Traders note solid two-way action. Sellers hold control above 1.5500 area so far. Be ready for whipsaw around news this week as both sides have technical reasons to execute.

GBP/USD Daily
Resistance 3: 1.5800/10
Resistance 2: 1.5780
Resistance 1: 1.5710/20
Latest New York: 1.5500
Support 1: 1.4850
Support 2: 1.4740
Support 3: 1.4680

GBP/USD Daily
Resistance 3: 1.5800/10
Resistance 2: 1.5780
Resistance 1: 1.5710/20
Latest New York: 1.5500
Support 1: 1.4850
Support 2: 1.4740
Support 3: 1.4680

Forex Analysis by Jason Alan Jankovsky at ForexPros.com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check http://www.forexpros.com