GBPUSD Technical Analysis (9-13 February,2015) | February 7, 2015

GBPUSD is staying above its support area. 1.5200-1.5210 is minor support area for this pair. It rejected from that support level. A pin bar is formed on that level on H4 time frame. So we can see little bullish movement on this pair. However, this pair is on downtrend on higher time frame. If we draw fibo, we can see the fibo retrace area. We can sell from that fibo level.


In Technical Indicators view

In daily chart, MACD indicator is just below 0.0 level. So it is showing trend is neutral.

In daily chart, RSI indicator is also showing neutral as it is staying at 53.

50, 100 and 200 Moving averages are showing that it is on downtrend.



Weekly Pivot, Support and Resistance

Resistance Two (R2): 1.5556

Resistance One (R1): 1.5398

Pivot Point: 1.5193

Support One (S1): 1.5035

Support Two (S2): 1.4830