GBPUSD 2014-12-05

Posted on

GBP/USD: 1.5680

Back to down trend

Market still holding short-run trades between 1.5590 – 1.5790

market still have chance to hold this short-run trading zone , while as long as market holding trades below 1.5870 the downtrend wave will sustain this year

med-run showing resistance for downtrend wave around 1.5870 , where as long as market holding trades below this level expect the downtrend wave to head toward 1.5380

Short-run

Market managed as we expected before to head toward 1.5790 target , while market back to drop from those levels

market now have chance for another advance to re-test 1.5750-80 which already done this week , where market already give opportunity to re-short-sell market there while stop order will be above 1.5880 , while target will be expected toward 1.5380

Daily Trend: Down
Weekly Trend: Down

  Support Resistence
Level 1 1.5615 1.5750-80
Level 2 1.5585 1.5825
Level 3 1.5530 1.5870-95
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