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    Technical analysis of GBP/USD for May 15, 2015

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    Overview:
    • Today, the GBP/USD pair was not stable because the trend rebounded from the level of 1.5814 for that it has been moving between 1.5814 and 1.5725 since yesterday. Accordingly, it is of the foresight to be careful in this area. So, the first step is waiting in this spot before investing. As a result, it will probably be that the GBP/USD pair is going to start showing the signs of bullish market at the level of 1.5725 again. In other words, it will be a good sign to buy above the level of 1.5725 with the first target at 1.5786 in order to test the weekly resistance 1. It will call for the uptrend to continue its bullish movement towards 1.5814 to retest the double top in the H1 chart. At the same time, if the pair could not break 1.5814, the market will indicate a bearish opportunity at the spot of 1.5814. This level will act as strong resistance on May 15, 2015. It is providing a clear signal for sell deals with a target at 1.5720. Moreover, if the trend is able to break minor support at the level of 1.5720, the pair will drop towards the major support at 1.5666. On the other hand, the stop loss should be placed above 1.5837.
    Uitgevoerd door, Analytische expert
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