GBPUSD 2015-01-26

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GBP/USD: 1.5000

Pound under drop pressure

market managed to fell after ECB announced QE program , while market managed to break below 1.5035 which initiate new downtrend wave that may target 1.4800 as first target

below 1.4800 market may add more drop pressure where target would be toward 1.4300-1.4400 zone

short-run showing resistance zone at 1.5060 , where as long as market holding trades below this zone the downtrend movement will sustain toward 1.4800 as first target

Daily Trend: Down
Weekly Trend: Down

  Support Resistence
Level 1 1.4885 1.5060-80
Level 2 1.4800 1.5160
Level 3 1.4725 1.5210


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