GBPUSD Daily Forecast Jan 23 2015

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Uk min
Uk min

The GBPUSD continued its bearish momentum yesterday , topped at the 1.5211 levels and bottomed at the 1.4971 levels. This development leaves the pair targeting the 1.4800 levels , a halt is likely , but a cut would open 1.4570 next , further down will target the 1.4320 levels .

On the upside , resistance comes at the 1.5033 levels , a break would open 1.5140 next , further upside will recapture main resistance at the 1.5211 levels before the next fall.

In all , as long as 1.5211 resistance holds on a daily closing basis , outlook in GBPUSD remains on the downside towards the 1.4800 levels ahead of the 1.4570 levels , break of the 1.5211 levels on a daily closing basis is needed to signal short term bottoming and open the 1.5318 levels .

 

GBPUSD Daily Forecast Jan 23 2015

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