Open trading account 
hey everyone,,
GBPUSD ended last week unchanged after testing both 1.4357 support as well as 1.4565 resistance. The latter is actually the 2015 low and is therefore a key level the bulls must break if they intend to push prices higher from here.
While the price action in the short-term could remain neutral to bullish, I’m still largely bearish given the downtrend that has been in place since the second half of 2014. As such, I favor selling rallies at resistance, but not until the pair has had enough time and space to on a weekly basis (currently near 1.4800).
A close above resistance at 1.4565 would expose the 1.4800 handle, while a close below support at 1.4357 would suggest that a retest of the current 2016 low at 1.4078 is in order.
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source
GBPUSD ended last week unchanged after testing both 1.4357 support as well as 1.4565 resistance. The latter is actually the 2015 low and is therefore a key level the bulls must break if they intend to push prices higher from here.
While the price action in the short-term could remain neutral to bullish, I’m still largely bearish given the downtrend that has been in place since the second half of 2014. As such, I favor selling rallies at resistance, but not until the pair has had enough time and space to on a weekly basis (currently near 1.4800).
A close above resistance at 1.4565 would expose the 1.4800 handle, while a close below support at 1.4357 would suggest that a retest of the current 2016 low at 1.4078 is in order.
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source
