GBPUSD Forecast February 9, 2015, Technical Analysis
The GBPUSD pair fell during the course of the day on Friday, testing the 1.52 handle.
The GBPUSD pair fell during the course of the day on Friday, testing the 1.52 handle.
GBPUSD remains in downtrend from 1.5785, the rise from 1.5034 is likely consolidation of the downtrend.
GBPUSD is showing signs of a pullback, as price previously found support near the 1.5000 major psychological level. Using the Fibonacci retracement tool on the latest swing high and low on the 4-hour time frame indicates that the 61.8% Fibonacci level lines up with a former support zone.
GBPUSD is facing 1.5541 support again, a breakdown below this level will signal resumption of the downtrend
GBPUSD broke below 1.5585 support, indicating that the downtrend from 1.6182 has resumed.
After touching 1.5590 support, GBPUSD bounced back into the trading range between 1.5590 and 1.5825,
GBPUSD broke below 1.5590 support, indicating that the downtrend from 1.6182 has resumed.
GBPUSD remains in downtrend from 1.6182, the rise from 1.5590 is likely consolidation of the downtrend.
GBPUSD remains in downtrend from 1.6182, the rise from 1.5590 is likely consolidation of the downtrend.
GBPUSD remains in downtrend from 1.7190.