Overview :
- The GBP/USD pair on December 31, 2014. The resistance is going to set at the level of 0.5598. Consequently, the descending movement will probably be lower than the 0.5600 level with the targets at 0.5520 and 0.5485. Also, it should be noted that the weekly support 1 set at the level of 1.5473. On the contrary, the support has already set at 1.5473. Furthermore, it should be noticed that it will be very profitable to buy above this level for retesting this level in the short period. Therefore, buy deals are recommended above the 1.5473 level with targets at 1.5560 and 1.5610 to reach the double top.
Technical levels :
- It should be noted that the price will move between 1.5600 and 1.5522 today.
- Projected high: 1.5610
- Strong resistance (sell limit): 1.5610.
- The resistance will be set at the price of 1.5600.
- Current pivot: 1.5556
- Projected low: 1.5473
Observations :
- The support will set at the level of 1.5473, but the double bottom is going to set at 1.5485.
- The GBP/USD pair called for bearish market from the price of 1.5610 this week.
- Stop loss should never exceed your maximum exposure amounts.
- As a rule, the market is highly volatile on the last day of a year.
The material has been provided by InstaForex Company - www.instaforex.com
