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GBPUSD Weekly Technical Analysis (9-13 March, 2015) | March 8, 2015
Gbpusd fell sharply last week. It downs almost 400 pips in previous week. So it is showing its down pressure. Sellers have taken the bearish power. We can expect more down rally on gbpusd in the coming trading session. We should look for sell entry on this pair. Sell zone lies on 1.5200 area.
After bearish divergence, this pair is falling continuously. It has also broken rising wedge pattern and several support level. Now this pair is near to its important support area at 1.4970-1.5000 level.
Weekly Pivot, Support and Resistance
Resistance Two (R2): 1.5560
Resistance One (R1): 1.5296
Pivot Point: 1.5164
Support One (S1): 1.4900
Support Two (S2): 1.4768
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