GBPUSD Weekly Technical Analysis (18-22 May,2015) | May 16, 2015

Gbpusd is facing important resistance at 1.5800 area. It will be very critical for this pair. We can see bearish engulfing pattern formed on daily chart on that resistance level. So it indicates bearish signal on this pair. We can stay for bearish side below this resistance level. We will look for sell entry below this resistance area. On the other hand breakout of this resistance, this pair can move more higher.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 1.6066

Resistance One (R1): 1.5897

Pivot Point: 1.5645

Support One (S1): 1.5476

Support Two (S2): 1.5224