GBPUSD 2014-12-08

Posted on

GBP/USD: 1.5580

Back to down trend

market managed to hit below 1.5580 last friday after U.S labor market data , while market now facing resistance at 1.5625 zone

as long as market holding trades below 1.5625 the downtrend will sustain , while above 1.5625 market may add risk for another rebound correction that may target 1.5700 and maybe 1.5780 zone.

med-term
as long as market holding trades below 1.5870 the downtrend wave will sustain where targets will sustain toward 1.5380 zone

Daily Trend: Down
Weekly Trend: Down

  Support Resistence
Level 1 1.5530 1.5625
Level 2 1.5450 1.5700
Level 3 1.5380 1.5780
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