GBPUSD 2015-02-09
GBP/USD: 1.5215
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 last week) ,
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
market managed to test 1.5350 resistance zone last week while retreated from there after U.S labor market data last week
market now showing downtrend pressure to test 1.5140-60 zone , while below 1.5140 expect 1.5040 zone
Daily Trend: Down
Weekly Trend: Down
Support | Resistence | |
Level 1 | 1.5140-60 | 1.5265 |
Level 2 | 1.5040 | 1.5300 |
Level 3 | 1.4950 | 1.5350 |