GBPUSD Bullish Eyes Further Upside!


Outlook in GBPUSD remains on the upside as long as 1.3227/1.3169 support holds on a 4-hour closing basis, resistance comes at the 1.3340 levels a halt is likely but a break would open 1.3396 levels, further upside, resistance stands at the 1.3469 levels.

On the downside, support comes at the 1.3227 levels ahead of the 1.3169 levels, a cut through that level will bring a corrective pullback towards the 1.3061/1.3030 levels where another rise is likely, however; below that level will extend the pullback towards the 1.2919 levels…

Conclusion: The GBPUSD continues to face upside threats above the 1.3227/1.3169 levels…(minor support 1.3267)…

Support and resistance: 1.2919, 1.3030, 1.3061, 1.3169, 1.3227, (1.3267 minor level), 1.3340, 1.3396, 1.3469.

Trend direction: upwards.

Recommendations: buying on dips…

Note, today at 08:30 GMT, the U.K monthly employment report is likely to bring a buying opportunity…

GBPUSD Weekly Forecast


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