Date: 26th January, 2016
Currency Pair: GBPUSD
Pound is under bearish pressure against USD. The pair has lost its ground and now hovering above daily support i.e. 1.4211. Failure to stand above the support level may proved as significant. Below 1.4211 support 1.4174 and 1.4125 are subsequent support levels.
On the opposite upside limit is capped by 1.4297. Beyond the level 1.4346 and 1.4383 are other resistance levels.
Since yesterday GBPUSD has been moving in a well defined bearish slope. The pair is now trading above 1st support. Price action is clearly bearish. Beas is bearish.
Today’s Economic Events
|GBP||BOE Gov Carney Speaks||High|
|USD||S&P/CS Composite-20 HPI y/y||Low||5.7%||5.5%|
|USD||Flash Services PMI||Low||53.9||
|USD||CB Consumer Confidence||High||96.6||96.5|
|USD||Richmond Manufacturing Index||Low||3||6|
4 Hours Chart
Daily Support And Resistance Levels