Friday 12 February 2016

Technical analysis of the GBP/USD for February 12

GBP/USD

Pound/Dollar attempted to drop yesterday, forming a bottom of 1.4383. The pair lost 46 pips at a closing price of 1.4475. Daily extreme values were reached respectively at 1.4562 and 1.4385. The first immediate resistance is seen at 1.4550. A clear break above that area could trigger further bullish pressure testing 1.4620 or higher. Support for the day is 1.4450, whose breach could lead to bearish pressure testing 1.4400 - 1.4350, which could serve as a springboard for price rebound back to 1.4700. The main technical signals remain neutral, but the upward intraday scenario is still valid at this point.


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