GBP/USD: 1.5330
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 (already done yesterday) ,
as long as market holding trades below 1.5350 market may have chance for another drop to re-test 1.4800-50 zone , while any daily close above 1.5375 may activate bigger rebound correction toward 1.5650
as long as market holding trades above 1.5220 the uptrend will sustain , while below 1.5220 market will start to give weak signals for farther drop toward 1.5140 and 1.5050
Daily Trend: Down
Weekly Trend: Down
| Support | Resistence | |
| Level 1 | 1.5220-50 | 1.5350-75 |
| Level 2 | 1.5140 | 1.5480 |
| Level 3 | 1.5050 | 1.5575 |
