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    Daily analysis of GBP/USD for January 05, 2015

    The GBP/USD is showing a strong weakness in the current trend and is something that is clearly reflected in the daily chart, as this pair opened the week with a bearish gap. Now, the GBP/USD is preparing to consolidate below the support level of 1.5266 and fall to the level of 1.5159 during this month, which is a very achievable goal, because the MACD bearish indicator still has enough force to give.

    Daily chart's resistance levels: 1.5407 / 1.5506 Dailychart's support levels: 1.5266 / 1.5159

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    At the H1 chart, we can see that the GBP/USD had a fairly annual bearish opening, due to the strength it has seen the US dollar in recent months. Now, the GBP/USD is finding support at the level of 1.5249 in an intraday outlook, but for now, this pair could begin to form a lower low pattern. H1 chart's resistance levels: 1.5295 / 1.5333 H1 chart's support levels: 1.5249 / 1.5198

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    Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.5249, take profit is at 1.5198, and stop loss is at 1.5302.

    Felipe Erazo neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door portal. Als u zijn artikel goed vindt, stemt u dan op hem.

    Uitgevoerd door, Analytische expert
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