GBPUSD Technical Report and Signal for Thursday, December 11 2014

Technical Report

SUMMARY:

The secondary trend of GBP/USD is bearish, it is sustaining below the falling trend line & expected to give breakout at upside. Prices are taking support of 200 SMA & 30 DMA , consolidating with a positive bias. 1.5770 is a important level and breaching of it can show upside movement to the levels of 1.5820. MACD line is sustaining above the zero line, which is also indicating the positive sentiment in the market. RSI is also supporting the same. 

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STRATEGY:- 

For Today, GBP/USD is looking strong on chart. We can expect positive side movement for this session. One can go for buy on dips strategy for this pair for intra day to mid term positions.

Technical Chart

 

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.2300	1.2330	1.2389	1.2419	1.2478	1.2508	1.2567
GBP/USD	1.5591	1.5618	1.5667	1.5694	1.5743	1.5770	1.5819
USD/JPY	114.83	116.27	117.04	118.48	119.25	120.69	121.46
USD/CHF	0.9578	0.9619	0.9642	0.9683	0.9706	0.9747	0.9770
AUD/USD	0.8183	0.8222	0.8269	0.8308	0.8355	0.8394	0.8441
EUR/GBP	0.7852	0.7867	0.7894	0.7909	0.7936	0.7951	0.7978
USD/CAD	1.1368	1.1399	1.1441	1.1472	1.1514	1.1545	1.1587
NZD/USD	0.7529	0.7594	0.7703	0.7768	0.7877	0.7942	0.8051