Thursday, January 22, 2015

GBP/USD Weathers Selling Pressure

Though the fundamental background was negative for the Pound, the currency did not wander away from the resistance at 1.5160/45 (weekly PP and monthly S3). Despite the demonstrated resilience, the outlook for GBP/USD is bearish, mainly because of the major falling trend-line at 1.5450. The immediate support is at 1.5050



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