GBPUSD 2015-01-02

Posted on

GBP/USD: 1.5529

Pound on downward spiral

Market has slipped after the manufacturing data has missed the expectation.

market now facing resistance at 1.5685 and 1.5785

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 managed to offer good opportunity to short-sell around 1.5770-90, already done , while as long as market holding trades below 1.5875 the downtrend wave will sustain toward 1.5380

market managed to fell below 1.5540 indicating the continues pressure toward 1.5380 , while resistance now lying at 1.5600 and 1.5660

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 1.5380 1.5480
Level 2 1.5250 1.5550
Level 3 1.5180 1.5620
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