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Technical Analysis Daily: GBP/USD |
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Technical Archives |
Written by ZIFX.com |
Feb 12 09 03:05 GMT
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Technical Analysis Daily: GBP/USD
GBP/USD 1.4233
GBP/USD Open 1.4343 High 1.4538 Low 1.4208 Close 1.4394
The descending movement of the Pound/Dollar continued yesterday, which today accelerated further downwards. The currency couple dropped to the bottom 1.4319, and closed the day at 1.4394. On the 4 hour chart the upward channel was penetrated downwards. Short term signals are decreasing with the goals towards the region of 1.4150. Immediate resistance is 1.4570, followed by 1.4640. The CCI indicator has just crossed down the 100 line of the daily chart, signaling for decreasing pressure.
Technical resistance levels: 1.4415 1.4535 1.4630
Technical support levels: 1.4150 1.4000 1.3885
Trading range: 1.4245 - 1.4170
Trend: Downward
Sell at 1.4233 SL 1.4263 TP 1.4183
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