We are in bearish mode on GBPUSD currency pair
Here is the forex forecast and technical analysis for GBPUSD currency pair December 22 2014. Below you will find illustrations and technical analysis of GBPUSD currency pairs on various time frame. We tried to graphically illustrate our forex technical analysis so that you can logically understand the significance of our technical analysis.
On the monthly chart of GBPUSD currency pair we have drawn a down Fibonacci level from November 2007. And from there we can see that market is falling from the Fibonacci 50 level and in its way it already broke the Fibonacci 38.2 level and firmly going to touch the Fibonacci 23.6 level. Though the last few weeks this particular currency pair is ranging but we are strongly biased that this pair will go to touch the price level1.53100 in the coming months.
Team YellowFX is possessing a strongly bearish sentiment on GBPUSD currency pair and Our stop loss level is above 1.56838 level and take profit level is 1.53100.