GBPUSD 2015-04-01

0 8

GBP/USD:

1.4776

Wide range market

On the short-term ; the market is clearly on a range market trading between , 1.50 and 1.47 levels ; any breakout the move would be fast and strong targeting 500 pips on the mid-term. Most of the currencies markets going on a stabilizing rate between certain levels to consolidate the recent strong move we have seen on the last 6 months.

On the long-term view : still a lower levels is expected with stabilizing near 1.30s levels , the major turning point would be the May elections – The dollar effect which mainly would move the rate ; however , the stabilization is expected because of the expectation that BoE would hike rate after the Fed expected move.

Daily Trend: Neutral
Weekly Trend: Down

  Support Resistence
Level 1 1.4750 1.4830
Level 2 1.4680 1.4950
Level 3 1.4530 1.5050

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