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
|USD||FOMC Member Williams Speaks||Medium|
|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%|
|USD||FOMC Member Evans Speaks||Medium|
4 Hours Chart
Daily Support And Resistance Levels