GBPUSD 2015-02-04
GBP/USD: 1.5210
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 |