Overview:
- Again, it should be noticed that the gap of the GBP/USD pair has opened below the weekly pivot point at the level of 1.5548 this week. However, right now the current price sets at the level of 1.5557. So, the trend is still below the weekly pivot point (1.5640). Therefore, the market will probably indicate an bearish opportunity at the level of 1.5640 because the weekly pivot point will act as strong resistance today. According to the previous events, the price has still trapped between 1.5640 and 1.5491. The area below 1.5640 (below the weekly pivot point) looks for moving further downside with the first target at 1.5520 and continue towards 1.5491 in order to test the weekly resistance 1 . At the same time, stop loss should be placed above 1.5666.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of GBP/USD for July 6-10, 2015 . Thanks for your support.
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