Technical Analysis Daily: GBP/USD

Daily Forex Technicals | Written by iFOREX.bg | Oct 29 08 09:11 GMT |

GBP/USD 1.6043 GBP/USD Open 1.6082 High 1.6222 Low 1.5518 Close 1.6008 The Pound also made an upward adjustment against the U.S. dollar yesterday. The currency couple made a peak at 1.6008 and closed at the same price. The current rise should also be seen as an upward corrective movement. The CCI indicator is now in final oversold area on the monthly time frame. During that phase however be careful if opening long positions . The nearest resistance is 1.6310, followed by 1.6405. CCI is in the direction to cross the 100 hour line on the daily chart, assuming potential upwards pressure. Technical resistance levels: 1.6310 1.6405 1.6500 Technical support levels: 1.5515 1.5410 1.5320 Trading range: 1.6030 - 1.6095 Trend: Upward Buy at 1.6043 SL 1.6013 TP 1.6083 iFOREX.bg Forecasts and Trading Signals http://www.zifx.com