GBPUSD 2014-11-10

0 8

GBP/USD: 1.5900

Pound under drop pressure


market managed to spark rebound correction after U.S labor market data last friday , while short-run trading still facing resistance at 1.6020-35 zone

market may give another opportunity to re-short-sell market around 1.5975-1.6020 zone , while as long as market holding trades below 1.6035 the downtrend will sustain toward 1.5740

above 1.6040 market will have chance to back for test 1.6180 resistance zone

Daily Trend: Down
Weekly Trend: Down

  Support Resistence
Level 1 1.5870 1.5925
Level 2 1.5815 1.5975
Level 3 1.5740 1.6035
Short term strategy: place new short-sell orders at 1.5975-1.6020 zone , stop loss at 1.6045, target 1.5740


or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss