GBPUSD 2015-04-13

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GBP/USD:

1.4599

Wide range market ; the lower boundary and a breakout has occurred

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.As we have mentioned before ; the breakout was on the downside which means further drop toward 1.42 levels for the mid-term and that means the continuation for the strong dollar across the markets

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: Down
Weekly Trend: Down

  Support Resistence
Level 1 1.4550 1.4750
Level 2 1.4367 1.4880
Level 3 1.4227 1.4950

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