Support & Resistance for GBP/USD (SIGNAL)

Support & Resistance for GBP/USD (SIGNAL)

14 January 2016, 11:14
Andrius Kulvinskas
0
144
R5 1.4663 4 Jan low
R4 1.4645 * 8 Jan high
R3 1.4600 * figure
R2 1.4534 7 Jan low
R1 1.4494 11 Jan low

S1 1.4352 12 Jan low
S2 1.4346 * 8 Jun 2010 low
S3 1.4260 25 May 2010 low
S4 1.4228 * 2010 low
S5 1.4110 * 30 Mar 2009 low

 Struggling to hold the 1.4400 level and break here keep focus on the downside for retest of the 1.4352 low. Break here will see potential to 1.4260 then the 1.4228, 2010 low. Recent low at 1.4494 and 1.4534 now reverts to resistance and lift over these needed to trigger stronger recovery to
retrace steep drop from the Dec high.

Short at 1.4550, stop at 1.4850, profit target at 1.4250

Short at 1.4650, stop at 1.4850, profit target at 1.4250

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