GBPUSD 2014-12-17

0 0

GBP/USD: 1.5715

Pound on trading zone

As we advised before, market managed to jump above 1.5625 which allowed farther rebound correction where market managed to hit our target 1.5700-20 zone

market now facing resistance at 1.5755 and 1.5825

as long as market holding trades below 1.5825 the downtrend pressure will sustain , while above 1.5875 the indicators will start to show uptrend pressure

short-run

Market may provide good zone for short-sell around 1.5770-90 , while as long as market holding trades below 1.5875 the downtrend wave will sustain toward 1.5380

so far short-run trading zone still holding between 1.5540 – 1.5875 , while as long as market holding trades below 1.5875 the downtrend wave will sustain

Med-term
as long as market holding trades below 1.5875 the downtrend wave will sustain where targets will sustain toward 1.5380 zone

Daily Trend: Down
Weekly Trend: Down

  Support Resistence
Level 1 1.5625 1.5770-90
Level 2 1.5585 1.5825
Level 3 1.5540 1.5875

START TRADING

or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss