For Traders

Analytical Reviews

26.01.201503:31 Forex Analysis & Reviews: Forecast of GBP/USD for January 26, 2015

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The cable fell to multi-year low against the USD. The US dollar is enjoying its bullish run trading at a 12-year high. The cable closed below 1.5000 in the previous week. This week, the cable's fate will decided after tomorrow's UK's prelim GDP and Wednesday's US Federal Reserve's meeting. Today, the focus has shifted to BBA mortgage approvals. It's been in a downtrend for the last 5 months. The cable has a strong support zone between 1.4830 and 1.4800. The pair has the nearest resistance at 1.5036. In case if the pair breaches above 1.5040, it can challenge up to the 1.5080 and 1.5105 levels. Until the prices close below 1.5100, use every rise to sell. The cable has intraday support at 1.4985 and 35DEMA. We recommend fresh selling below the 1.4980 levels. The pound remained at 18-month lows against the USD.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.