Forex Trader

1.5500 and daily MA100 was tough level for the buyers, which I pointed in my previous GBP/USD analysis from October 14., after wich the pair didn’t manage to break that level for days. Last week and the US dollar stenght pull this pair down as well and the pair fell from 1.5500 all the way to 1.5026 low, where the buyers have waited and pushed the pair up to 1.5125 yesterday. The buyers should hold this psychological and technical support at 1.50, otherwise the pair could decline furder toward 1.4850 > 1.4600. On the way up, the first resistance is 1.5125/40, follows 1.5230/50 > daily MA200 and 1.5340/60.