GBPUSD – Daily Analysis – 09th October, 2015

Date: 09th October, 2015

Currency Pair: GBPUSD

GBPUSD has been moving in a well defined bullish slope. The pair is slowly advancing towards up to approach the immediate resistance i.e. 1.5391. Any break here could push the pair towards 1.5436 price level and may extend to 1.5501.

On opposite 1st support is seen at 1.5281. Below this level 2nd resistance can be found at 1.5216 followed by 1.5171.

From technical point of view GBPUSD is strong at this moment. Weekly, Daily and 4 hours charts are showing bull candles. So it won’t be surprising for us if the pair crosses all the resistance levels. Bias is bullish from my side.

Economic Events For Today

Currency Event Impact Actual Forecast Previous
USD FOMC Member Williams Speaks Medium
GBP Trade Balance Medium -10.0B -11.1B
GBP Construction Output m/m Low 1.0% -1.0%
USD Import Prices m/m Medium -0.5% -1.8%
USD FOMC Member Lockhart Speaks Medium
USD Wholesale Inventories m/m Low 0.1% -0.1%
ALL IMF Meetings Low
USD FOMC Member Evans Speaks Medium

4 Hours Chart

Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
GBPUSD 1.5281 1.5216 1.5171 1.5391 1.5436 1.5501
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