Technical Analysis Daily: GBP/USD

Daily Forex Technicals | Written by iFOREX.bg | Dec 12 08 08:31 GMT |

GBP/USD 1.4911 GBP/USD Open 1.5010 High 1.4985 Low 1.4752 Close 1.5025 Pound/Dollar did not move significantly yesterday. After the triangular formation, the currency couple continued to move into a rectangle which is another consolidation figure. The British currency traded within the range 1.4736 - 1.4879. The above range however was broken today upwards, showing existing ascending pressure on the GBP/USD. Further rising may lead to forming an upward channel for the currency couple. At the moment rising pressure can be expected towards the region of 1.5040, as we still have potential bullish reversal in the long term. The CCI is in neutral zone on the one and four hour, and the one day charts. Technical resistance levels: 1.5045 1.5180 1.5300 Technical support levels: 1.4675 1.4600 1.4495 Trading range: 1.4900 - 1.4965 Trend: Upward Buy at 1.4911 SL 1.4881 TP 1.4951 iFOREX.bg Forecasts and Trading Signals http://www.zifx.com