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



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Gbpusd has broken rising wedge pattern. After breakout, this pattern gives bearish signal. So we can expect down rally on this pair. Stop loss should be above this wedge pattern at 1.5500 level. 1st target will be 1.5270 area and then 1.5000 level. We can wait for little retracement for taking sell entry. 1.5460-.15480 level is strong resistance for this pair. So our recommendation is to sell from resistance level on gbpusd.



Weekly Pivot, Support and Resistance

Resistance Two (R2): 1.5559

Resistance One (R1): 1.5477

Pivot Point: 1.5396

Support One (S1): 1.5314

Support Two (S2): 1.5233


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