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| Technical Analysis for Gbp-Usd 8-7-2015 |
Gbp/Usd pair move yesterday in the average price movement of 197 PIPs, it records the highest level at 1.5609 the lowest levels at 1.5412 levels and closed at 1.5451 to Lose 151 pips according to yesterday’s economic data.
The pair opened today at 1.5451 oscillatory between the 1.5425 and the 1.5465 levels during the Asian session in a trading average of 40 pips for the limitation of the market liquidity, and in the European session the pair went down to 1.5400
The pair is moving in a series of down corrective waves and achieved our target at 50%, 61.8% FIBO retracement
The pair achieved our target yesterday at 1.5511
It is expected that the pair Pound against the dollar will go to targeted level at 1.5310 in the next few hours According to economic data today.
Today at 18:00 we are looking for FOMC Meeting Minutes
The Relative Strength Indicator "RSI" show us distribution operations at the market and the control of Bears on the market
Medium term trend: up
Support levels: 1.5372 and 1.5293 and 1.5175
Resistance levels: 1.5569 and 1.5687 and 1.5766
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