Monday, January 18, 2016

Support & Resistance for GBP/USD

R5 1.4445 14 Jan 2016 high
R4 1.4428 15 Jan 2016 high
R3 1.4352 12 Jan 2016 low
R2 1.4325 intraday level
R1 1.4280 intraday level

S1 1.4228 ** 20 May 2010 low
S2 1.4110 * 30 Mar 2009 low
S3 1.4000 figure
S4 1.3958 2 Mar 2009 low
S5 1.3844 * 18 Mar 2009 low

View unchanged from this morning with the sharp decline last Friday below the 1.4352 support setting the bigger downmove from 1.4970 high back in motion with bears now eyeing lower support at 1.4228 ahead of 1.4110. Intraday trade to remain suppressive.