GBPUSD Weekly Technical Analysis (20-24 July, 2015 Forex Trend Line Case Study)

 

GBP-USD has rejected from 1.5640 level. We can see rejection candle from that level. So this is good resistance zone. So this pair is giving sell entry. 1.5555 level is near term support area for this pair.

If it can break this level, then we can get more bearish movement on this pair. Next target will be 1.5450 area. 2nd target will be 1.5350 level.

So below 1.5670 area, we can stay on sell mode on this pair.

 

Weekly Pivot, Support and Resistance

 

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Resistance Two (R2): 1.5794
Resistance One (R1): 1.5688
Pivot Point: 1.5569
Support One (S1): 1.5463
Support Two (S2): 1.5344


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