GBPUSD 2015-02-11

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GBP/USD: 1.5290

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 1.5300
Level 2 1.5040 1.5350
Level 3 1.4950 1.5480


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