GBPUSD fall sharply on the first trading day of this year. It is now full of bearish momentum. After breaking 1.5480 area, this pair started rapid falling. More downward movement will be seen in the coming days. Daily and weekly chart also giving sell signal in this pair. Selling area for this pair is 1.5480 area.
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This pair is now near to the important support area at 1.5250-15280. On the weekly chart we can see that this pair bouch from this level many times. So this level will be key level for this pair. We have to wait for breakout of that level for further down rally. If it breaks this major support, then this pair can down more and target will be 1.4800 area.
Weekly Pivot, Support and Resistance
Resistance Two (R2): 1.5718
Resistance One (R1): 1.5522
Pivot Point: 1.5424
Support One (S1): 1.5228
Support Two (S2): 1.5130