GBPUSD – Daily Analysis – 26th January, 2016

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

Currency Event Impact Actual Forecast Previous
GBP BOE Gov Carney Speaks High
USD HPI m/m Low 0.4% 0.5%
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

Currency Pair S1 S2 S3 R1 R2 R3
GBPUSD 1.4211 1.4174 1.4125 1.4297 1.4346 1.4383
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