Technical Analysis Daily: GBP/USD

Daily Forex Technicals | Written by iFOREX.bg | Dec 05 08 09:24 GMT |

GBP/USD 1.4734 GBP/USD Open 1.4666 High 1.4826 Low 1.4466 Close 1.4677 On Thursday Pound/Dollar reached our short term forecast goal at 1.4675, even made a lower bottom of 1.4466. The currency couple than shifted and sharply rose, reaching a peak of 1.4826 and closed the day at 1.4677. Signals for today remain descending. The nearest resistance is seen at 1.4800. Immediate support is 1.4545. Another move under that level could lead to further bearish scenario towards the region of 1.4286. The CCI indicator however, is about to cross down the 100 line on the four hour chart, indicating more potential decreasing pressure. Technical resistance levels: 1.4800 1.4970 1.5060 Technical support levels: 1.4545 1.4470 1.4395 Trading range: 1.4745 - 1.4680 Trend: Downward Sell at 1.4734 SL 1.4764 TP 1.4694 iFOREX.bg Forecasts and Trading Signals http://www.zifx.com