GBPUSD Weekly Technical Analysis (23-27 March, 2015) | March 21, 2015

After breakout of major support, gbpusd pulled back from that level. We saw great impact of FOMC on this pair. It moved more than 450 pips in this upside direction and dropped again. On friday, this pair got back bullish power again. So we can expect more bullish movement in the coming days on this pair. Now this pair is below its important resistance level 1.5000 area. If it can break this level, then we can get bullish continuation on this pair. On the other hand, it can holds this resistance, then we can see bearish rally again. In daily chart, we can see two bullish and one bearish candle on same range. With the breakout this range we can get next trend direction. So we need to wait for confirmation for taking entry.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 1.5441

Resistance One (R1): 1.5195

Pivot Point: 1.4915

Support One (S1): 1.4669

Support Two (S2): 1.4389