GBPUSD 2015-02-03

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GBP/USD: 1.5055

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

as long as market holding trades above 1.4950 a farther rebound toward 1.5300-20 zone may be expected , while below 1.4950 expect market to sustain drop to test 1.4800-50 zone

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

as long as market holding trades below 1.5350 market may have chance for another drop to re-test 1.4800-50 zone , while above 1.5350 market will start showing more signals of ability for bigger rebound toward 1.5600

Daily Trend: Down
Weekly Trend: Down

  Support Resistence
Level 1 1.5000-40 1.5230-70
Level 2 1.4950 1.5330-50
Level 3 1.4800-50 1.5480


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