GBPUSD Technical Analysis (19-23 January,2015) | January 18, 2015

GBPUSD is still above key support area. Last week it can not break support level at 1.5030-1.5060 area. 1.5000 is psychological level for this pair. Breaking of this level, it can go its critical support on 1.4800-1.4830 area.


In weekly chart, inside bar is formed. So with the breakout of this base candle range, we can take entry in the breakout side. Inside bar range is between 1.5030 to 1.5320 If break 1.5320, then we can buy. If it break 1.5030, then we can sell on this pair.


In daily chart, this pair is below 21 EMA. We can see bearish signal from daily candle. So below 1.5300 resistance, this pair remains on downside bias. Our recommendation is to sell from retracement on this pair.



Weekly Pivot, Support and Resistance


Resistance Two (R2): 1.5358

Resistance One (R1): 1.5252

Pivot Point: 1.5163

Support One (S1): 1.5057

Support Two (S2): 1.4968