GBPUSD 2014-12-08

0 5

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.

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


or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss

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