Fundamental review of the market on 10.02.2014

It is expected that GBP/USD will be traded at a higher level due to lack of trust by investors for US dollar and because of the demand for GBP as it is increasing against JPY. Level of resistance equals to 1.6418 (Friday maximum). If this level is breached, next level of resistance is 1.6445 (maximum of February 3), next – 1,6497 (maximum of January 31), 1,6566 (maximum of January 30) and 1,6606 (maximum of January 29). Level of support equals to 1,6345 (on hourly graph), next level is 1,6298 (Friday minimum). In case this level is broken it will lead the way to 1,6270 (Thursday minimum), next – 1,6261(moving average for the last 100 days), 1,6250 (Wednesday minimum), 1,619 (local minimum of December 17) and 1,6131 (December 17 minimum)

Analysis by Artjom Batenskiy​