GBP/USD 1.4312

GBP/USD Open 1.4271 High 1.4396 Low 1.4069 Close 1.4295

Pound/Dollar increased in the last 5 days. The currency couple found resistance at levels around 1.4385 at the SMA indicator line. At the moment a combination of candles, forming falling star, with decreasing potential. Looking from the weekly chart perspective, the pair seems very undervalued. Bottom level is 1.3503 with two successful test, meaning that the level has become a serious support. Medium term traders have a wonderful opportunity to realize 11-13 figures in the next 2-3 weeks. Short term support levels are represented by 1.4060, followed by 1.3890. Short term resistance is seen at 1.4400, followed by 1.4510.

Technical resistance levels: 1.4400 1.4510 1.4625

Technical support levels: 1.4060 1.3890 1.3680

Trading range: 1.4325 - 1.4250

Trend: Downward

Sell at 1.4312 SL 1.4342 TP 1.4262