Technical Analysis Daily: GBP/USD

Daily Forex Technicals | Written by iFOREX.bg | Dec 10 08 09:48 GMT |

GBP/USD 1.4765 GBP/USD Open 1.4755 High 1.5045 Low 1.4675 Close 1.4751 Pound/Dollar could not keep the ascending movement on Tuesday. The currency couple made a bottom at 1.4677 and closed the day at 1.4753. On the four hour chart we have a formed triangle, which indicates that the couple is now in a consolidation phase. Break out of the triangle will provide a clearer trading direction opportunities. The nearest support is seen at yesterday's bottom 1.4675. Immediate resistance is 1.5045. Break above this level will result in further ascending movement towards the region of 1.5040. The CCI indicator is in the neutral zone on the four hour chart. Technical resistance levels: 1.5045 1.5180 1.5300 Technical support levels: 1.4675 1.4600 1.4495 Trading range: 1.4755 - 1.4815 Trend: Upward Buy at 1.4765 SL 1.4735 TP 1.4805 iFOREX.bg Forecasts and Trading Signals http://www.zifx.com