GBPUSD: Pushes Higher, Risk Points To The 1.6516 Level. GBPUSD: With a second day of recovery higher underway, there is risk of price extension with eyes on the 1.6516 level, its Jan 10 2014 high. A decisive break and hold above this level will pave the way for a run at the 1.6603 level, its Jan 02’2014 high.

1. Gives You A Trading Decision Edge
FX Daily Technical Strategy
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GBPUSD
Monday, Dec 20’14
Levels To Watch:
GBPUSD – 1.6350(S) and 1.6516(R)
Monday, Jan 20 01, 2014
FX Technical Research
www.fxtechstrategy.com
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2. FX Weekly Technical Strategy
EURUSD
EURUSD
GBPUSD: Pushes Higher, Risk Points To The
1.6516 Level.
GBPUSD: With a second day of recovery higher
underway, there is risk of price extension with eyes
on the 1.6516 level, its Jan 10 2014 high. A
decisive break and hold above this level will pave
the way for a run at the 1.6603 level, its Jan
02’2014 high. Further out, a breach of the 1.6603
level will open the door for additional strength
towards the 1.6650 level. Further out, a turn above
here will trigger its medium term uptrend
resumption towards the 1.6700 level followed by
the 1.6750 level and possibly higher towards the
1.6800 level. Its daily RSI is bullish and pointing
higher suggesting further strength. On the other
hand, on any pullback, support stands at the
1.6400 level where a break will turn focus to the
1.6350 level and subsequently the 1.6300 level.
Further down, support comes in at the 1.6259
level. On the whole, GBP continues to retain its
medium term upside bias.
Support
1.6400
1.6350
1.6300
Monday, Jan 20 01, 2014
Comments
Psycho level
Psycho Level
Psycho Level
Resistance
1.6516
1.6603
Comments
Jan 10 2014
Jan 2014 high
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GBPUSD
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4. FXTechstrategy
Disclaimer
The Professional Suite
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Monday, Jan 20 01, 2014
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