GBPUSD Weekly Technical Analysis (11-15 May,2015) | May 9, 2015

Due to election gbpusd is now on bullish momentum. It has touchd 1.5500 resistance area. This is very important level for this pair. Future movement will depend on this level. So we have to keep concentration on this level. If it can break this level, then bullish rally can extend upto 1.5800 area.
if we find any bearish candle on this level, then we can start selling on this pair and target will be 1.5170 area.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 1.5787

Resistance One (R1): 1.5618

Pivot Point: 1.5353

Support One (S1): 1.5184

Support Two (S2): 1.4919