GBPUSD 2015-02-06

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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


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