Technical Analysis Daily: GBP/USD

Daily Forex Technicals | Written by iFOREX.bg | Oct 27 08 09:15 GMT |

GBP/USD 1.5313 GBP/USD Open 1.5862 High 1.5905 Low 1.5300 Close 1.6227 The Sterling also made a slight adjustment upwards against the U.S. dollar on Friday. The currency couple made a peak at 1.6175 but closed significantly lower at 1.5417. Our model for today still remains short with target in the region of 1.5200. The most recent drop from 1.5900 is from the formed triangle on the one hour chart so that and return to the center of the triangle in the region of 1.5900 is a reasonable expectation. The nearest resistance is 1.5905. The CCI indicator is in the neutral zone in the four hour chart, assuming potential downwards pressure. Technical resistance levels: 1.5905 1.5990 1.6080 Technical support levels: 1.5300 1.5220 1.5135 Trading range: 1.5313 - 1.5250 Trend: Downward Sell at 1.5313 SL 1.5343 TP 1.5263 iFOREX.bg Forecasts and Trading Signals http://www.zifx.com