22/12/2014 GBPUSD continues to resist with a stronger Dollar


dollar, Pound, Sterling, Pound Sterling, Sterling Pound, GBP, GBP/USD, GBP/USD Forecast, GBPUSD analysis, GBPUSD outlook, GBPUSD technical analysis, Bank of England, BOE, Mark Carney, U.S Dollar, USD, GBP/USD outlook, GBPUSD forecast, GBP/USD projections, GBPUSD projections, MPC, monetary policy committee, forward guidance, asset purchase facility, bank rate GBPUSD went back on the rise after retail sales were higher than forecast. However, bullish fundamentals of the Dollar sent it back down, causing the pair to resist at 1.5704.

dollar, Pound, Sterling, Pound Sterling, Sterling Pound, GBP, GBP/USD, GBP/USD Forecast, GBPUSD analysis, GBPUSD outlook, GBPUSD technical analysis, Bank of England, BOE, Mark Carney, U.S Dollar, USD, GBP/USD outlook, GBPUSD forecast, GBP/USD projections, GBPUSD projections, MPC, monetary policy committee, forward guidance, asset purchase facility, bank rate GBPUSD continues to be supported at 1.5559 forming a double bottom formation on D1 chart. However, given the bullish fundamentals of the Dollar, the double bottom formation may not hold unless candles successfully close above 1.5742.

dollar, Pound, Sterling, Pound Sterling, Sterling Pound, GBP, GBP/USD, GBP/USD Forecast, GBPUSD analysis, GBPUSD outlook, GBPUSD technical analysis, Bank of England, BOE, Mark Carney, U.S Dollar, USD, GBP/USD outlook, GBPUSD forecast, GBP/USD projections, GBPUSD projections, MPC, monetary policy committee, forward guidance, asset purchase facility, bank rate Focusing on H4 chart, candles still remain within the downward sloping trend channel. Candles have yet to show any signals of going in either directions.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Bullish 1.5559 1.5600 1.5700 1.5780

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