GBPUSD Technical Analysis (2-6 February,2015) | January 31, 2015

GBPUSD is following a downward channel. It has also rejected from near-term resistance at 1.5200-.15220 area. It was good selling zone and price fell from that level. It is now staying below little resistance area.1.5100 is now resistance for this pair. Below this resistance we can stay on downside. For sell entry, target will be 1.5000 area.


In Technical Indicators view

In daily chart, MACD indicator is now below 0.0 level, so this indicates down trend.

In daily chart, RSI indicator values is 40 which is giving strong sell signal.

All Moving averages indicates downtrend of this pair.

In summary, all types of technical indicators are giving sell signal. So our recommendation is to stay on downside until this pair is below the resistance level



Weekly Pivot, Support and Resistance

Resistance Two (R2): 1.5334

Resistance One (R1): 1.5199

Pivot Point: 1.5089

Support One (S1): 1.4954

Support Two (S2): 1.4844