FxWirePro

GBP/USD 2015 Medium term Outlook

Short
FX:GBPUSD   British Pound / U.S. Dollar
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1
GBP/USD retreated till 1.5485 in 2014 after making high of 1.71905. The medium term trend is bearish as long as resistance 1.6200 holds.
On the upside break of 1.6200 would extend gain to 1.6337/1.6538 in short term.
The major support is around 1.5480 and any break below will target 1.50/1.4815.
The minor resistance are R1-1.5825, R2 1.6030, R3-1.6200

Indicators (Weekly chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell

Recommendation: Sell GBP/USD around 1.5650, SL 1.5825, Targets 1.500/1.4815.


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