Monday 11 May 2015

GBP/USD Has Reached 1.5600




GBP/USD has finally reached the resistance at 1.5600. As I thought, the move to the downside was only temporary and after the pair reached the support at 1.5090, it could not break below it and started climbing again. This time it managed to break the resistance coinciding with the previous high at 1.5550 and the rally continued. Actually, not only did the rally continue, but the pair reached the resistance at 1.5600. It is possible for the pair to stop climbing here, form a doji, hammer or a shooting star candlestick and start descending again, or it will break above the resistance and head for the next resistance level at 1.5800.
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7 comments:

  1. Unknown11 May 2015 at 11:51

    Great analysis, thank you for sharing it!

    ReplyDelete
  2. bewayopa11 May 2015 at 15:41

    Very good analysis. Well done!

    ReplyDelete
  3. Unknown11 May 2015 at 18:38

    very good analysis.

    ReplyDelete
  4. Anonymous12 May 2015 at 01:25

    Thank you for the analysis i'll keep an eye on the currency.

    ReplyDelete
  5. Unknown12 May 2015 at 04:48

    Very interesting! I'll keep an eye on it.

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  6. Unknown12 May 2015 at 17:05

    Good analysis, I will keep eyes on any further development.

    ReplyDelete
  7. Unknown13 May 2015 at 14:05

    Useful anaylsis.

    ReplyDelete

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