Weekly technical levels for the GBP/USD pair in the new year of 2015.
Review:
The key level is likely to set at the level of 1.5326. Also, it should be noted that the level of 1.5326 represents the double bottom. The support of the GBP/USD pair has already set at 1.5131. Moreover, the weekly support 2 will set at the same level and support 1 is placed at 1.5228. If the trend fails to close below the level of 1.5326, it will be a good opportunity to sell below 1.5326 with the first target at 1.5230. Then it is seen to continue straight towards 1.5135 in the coming days. So, we expect a new range about 210 pips this week. It should be noted that if there is no significant news, the market price will be moving from the pivot point to resistance 1 or support 1. But if there is some important news, the market price may go straight through resistance 1 or support 1 and reach resistance 2 or support 2 and even resistance 3 or support 3.Technical levels:
It should be noted that the price is seen to be moving between 1.5326 and 1.5135 today. Projected high: 1.5326 Strong resistance (sell limit): 1.5320. Resistance will be at 1.5320/1.5326. Current pivot: 1.5227 Breakout (sell stop): 1.5228. Support will be set at the price of 1.5228. Projected low: 1.5131