Weekly technical levels for the GBP/USD pair in the new year of 2015.
Review :
- The key level is likely to set at the level of 1.5326. Also, it should be noted that the level of 1.5326 represents the double bottom.
- The support of the GBP/USD pair has already set at 1.5131.
- Moreover, the weekly support 2 will set at the same level and support 1 is placed at 1.5228. If the trend fails to close below the level of 1.5326, it will be a good opportunity to sell below 1.5326 with the first target at 1.5230. Then it is seen to continue straight towards 1.5135 in the coming days.
- So, we expect a new range about 210 pips this week.
- It should be noted that if there is no significant news, the market price will be moving from the pivot point to resistance 1 or support 1. But if there is some important news, the market price may go straight through resistance 1 or support 1 and reach resistance 2 or support 2 and even resistance 3 or support 3.
Technical levels :
- It should be noted that the price is seen to be moving between 1.5326 and 1.5135 today.
- Projected high: 1.5326
- Strong resistance (sell limit): 1.5320. Resistance will be at 1.5320/1.5326.
- Current pivot: 1.5227
- Breakout (sell stop): 1.5228. Support will be set at the price of 1.5228.
- Projected low: 1.5131
The material has been provided by InstaForex Company - www.instaforex.com
