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GBP/USD struggles to break psychological level 1.5000, marching towards year low.

Wednesday, March 25, 2015 5:48 AM UTC

RES 4: 1.5165
RES 3: 1.5050
RES 2: 1.4981 (61.8% retracement of 1.5163 and 1.46872)
RES 1: 1.4900 (200 day Hourly EMA)

PRICE: 1.48585 @ 5:43GMT

SUP 1: 1.4832 (200 day HMA)
SUP 2: 1.4747
SUP 3:1.4687 (19^th Mar low)
SUP 4: 1.4634

Commentary:

GBP/USD is struggling to break psychological resistance 1.5000 and has retreated from that level. Overall trend is bearish as long as 1.5000 holds.

Short term trend is weak and is expected to reach 1.4634 year low. Overall bearish invalidation can happen only if closes above 1.5165 level.

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GBP/USD struggles to break psychological level 1.5000, marching towards year low.

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