# GBPUSD Short-term Forex Range (Dec 17, 2014) Source: https://www.tradersway.com/resources/market-info/gbpusd-short-term-forex-range-dec-17-2014/ Language: en Updated: 2014-12-17 Description: Explore GBPUSD Short-term Forex Range (Dec 17, 2014). GBPUSD has. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. GBPUSD has been stuck in a range on its 1-hour time frame, as the pair found support at the 1.5600 major psychological level and resistance at the 1.5750 minor psychological mark. Price recently bounced off the bottom of the range and is currently testing the top. Weaker than expected UK CPI wasn’t enough to trigger a downside break from support yesterday, as pound traders are still probably waiting to see the BOE meeting minutes due today. Also up for release are the UK jobs figures, which could reflect another pickup in employment. Take note that a bullish flag appears to have formed right on the top of the range, hinting that a continuation of the rally might be in order. Stochastic is moving lower though, which suggests that bears are in control of price action for now. If the top of the range holds as resistance, GBPUSD could move back to its previous lows around the 1.5600 mark. Depending on how the events turn out, a downside break might be possible. This could lead to a 150-pip selloff, which is the same size as the rectangle range pattern. A bounce could lead to a move back to the top of the range, with a potential upside break likely to last by another 150 pips as well. This scenario might take place if the BOE minutes remain hawkish, despite the recent downturn in inflation and the onse of risk aversion in the financial markets. ![GBPUSD Short-term Forex Range (Dec 17, 2014)] As for the US dollar, the FOMC statement is also a huge event risk for this trade, as the Fed is expected to drop the “considerable time” phrase in discussing how long rates might stay low even after easing has already ended. A relatively upbeat statement could mean extended gains for the dollar, which is already benefitting from the flight to safety in the past few days *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/gbpusd-short-term-forex-range-dec-17-2014/#primary", "url": "https://www.tradersway.com/resources/market-info/gbpusd-short-term-forex-range-dec-17-2014/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/gbpusd-short-term-forex-range-dec-17-2014/", "headline": "GBPUSD Short-term Forex Range (Dec 17, 2014)", "inLanguage": "en", "datePublished": "2014-12-17T07:03:46+00:00", "dateModified": "2014-12-17T07:03:46+00:00", "articleSection": "Market Info", "description": "Explore GBPUSD Short-term Forex Range (Dec 17, 2014). GBPUSD has. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/gbpusd-short-term-forex-range-dec-17-2014/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "GBPUSD Short-term Forex Range (Dec 17, 2014)", "item": "https://www.tradersway.com/resources/market-info/gbpusd-short-term-forex-range-dec-17-2014/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```