GBPUSD 2014-10-23

Oct 23, 1:49 pm

GBP/USD: 1.6020

Pound under drop pressure, while rebound correction on sight


as we see over the chart, market seems building falling wedge over the short-run where resistance at 1.6115-25 and support at 1.5855

market managed to jump above 1.6125 which give the market another advance where resistance now at 1.6190-1.6225 zone

if market failed to break above 1.6225 a trading zone between 1.5960 – 1.6225 may control the market

above 1.6225 expect 1.6320-40 zone

as long as market holding trades above 1.5950 another rebound toward 1.6290 will be expected , while below 1.5950 market may sustain drop to break below 1.5850

Daily Trend: Down
Weekly Trend: Down

Level 11.60001.6130
Level 21.59501.6225
Level 31.58501.6290
Short term strategy: Flat
(Visited 10 times, 1 visits today)