GBPUSD - 22.01.15. Pound continues lateral movement within the correction channel short-term trend 1.5007-1.5347. Technical analysis and forecast trends for position trading. Movement of the market as a whole is determined by the major downtrend that is trading sideways correction phase in the channel 1.4650-1.7965. The long-term trend is down, targeting 1.4650 support level. Mid-term and short-term trends and downward, but suspended the pound reduction in lateral correction in the channel 1.5007-1.5347, the boundaries of which identify key market levels. Breakthrough bottom of the channel will continue downward movement towards the goal of long-term support at 1.4650. Breakthrough top of the channel will open for testing short-term resistance level of 1.5545, turning the situation into the framework of the script medium-term trend sideways correction, corrective channel which will be determined after a local resistance level 1.5347. Trading tactics. Pound continues lateral movement within the correction channel short-term trend 1.5007-1.5347. Scenario-term downward trend in order to support level 1.4650 remains a priority. Hold short positions with a view to long-term support at 1.4650 and stop loss order at 1.5370, which is located above the local resistance 1.5347. Resistance levels: 1.5175, 1.5347, 1.5545, 1.6300, 1.7965, 1.9330. Support levels: 1.5178, 1.5037, 1.5007, 1.4650, 1.3820.
Posted on: Thu, 22 Jan 2015 11:14:00 +0000
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