GBPUSD Daily Forecast Jan 29 2015

Uk min
Uk min

Outlook in GBPUSD remains neutral with risk to the downside as long as 1.5211 resistance holds on a daily closing basis , support comes at the 1.5103 levels , losing this level on a daily closing basis is needed to resume the downward trend , If seen , next support will be at the 1.4971 levels , where a cut will open 1.4890 levels.

On the upside , break of the 1.5211 levels on a daily closing basis will extend recovery towards the 1.5318 levels before the next fall , If this resistance is taken out , strong recovery should be seen towards the 1.5500/1.5540 levels..

In all , as long as 1.5211 resistance holds on a daily closing basis , outlook in GBPUSD remains on the downside towards the 1.5103 levels where a cut will open the 1.4971 levels . above the 1.5211 levels will extend recovery towards the 1.5318 levels before the next possible fall…

 

GBPUSD Daily Forecast Jan 29 2015

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