GBPUSD 2015-02-12

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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

while today Inflation report over UK managed to add more advance over market where market facing now resistance at 1.5350-80 zone

as long as market holding trades below 1.5350-80 market may have chance for another drop to re-test 1.4800-50 zone , while any daily close above 1.5380 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 1.5350-80
Level 2 1.5040 1.5425
Level 3 1.4950 1.5480


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