GBPUSD Weekly Technical Analysis (20-24 April, 2015) | April 18, 2015

Gbpusd has rejected from its important resistance now on friday. It touched 50 ema on daily chart. Now this pair is now on important level. Further movement will depend on next week. If this pair respect this resistance level, then this pair can start bearish movement again. So we can look for bearish candle on this level on next week to ride on sell rally. Earlier in the last week, this pair had pulled back from support area which was accelerated quickly on this upside. Finally this pair get resistance on its critical area. So we need to wait for sell confirmation on this pair to take sell entry.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 1.5346

Resistance One (R1): 1.5152

Pivot Point: 1.4859

Support One (S1): 1.4665

Support Two (S2): 1.4372