GBPUSD - Weekly Outlook May 4th 2015
GBPUSD Daily Time Frame
1. 1.50 zone is now an important zone. It acted as resistance before and may act as support in the coming week.
2. If we get a pull back back to 1.5215 zone, I will be looking for bearish signals to sell GBPUSD. Alternatively, we may get a push all the way to 1.50 zone at which I will be looking for bullish signals to buy GBPUSD back to 1.5215 zone.
** Bullish/Bearish Signals include
- Bullish/Bearish Candle Stick formation at those levels
- Bullish/Bearish Divergence at lower time frames (e.g. H4, H1, M15).
- Trend line breaks on lower time frames.
1. 1.50 zone is now an important zone. It acted as resistance before and may act as support in the coming week.
2. If we get a pull back back to 1.5215 zone, I will be looking for bearish signals to sell GBPUSD. Alternatively, we may get a push all the way to 1.50 zone at which I will be looking for bullish signals to buy GBPUSD back to 1.5215 zone.
** Bullish/Bearish Signals include
- Bullish/Bearish Candle Stick formation at those levels
- Bullish/Bearish Divergence at lower time frames (e.g. H4, H1, M15).
- Trend line breaks on lower time frames.
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