GBPUSD Daily Forecast Jul 24 2015

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Outlook in GBPUSD hast turned neutral at the moment, support comes at the 1.5500 levels while resistance comes at the 1.5670 levels.

On the downside, losing the 1.5500 levels on a daily closing basis will open the 1.5420 levels. At this point I’d expect strong support from the 1.5420 levels to contain fall from the 1.5670 levels and bring rebound, however, below 1.5420 will continue falling towards the 1.5170 levels.

On the  upside, a failure to hold below the 1.5500 levels on a daily closing basis, could mean a return to the 1.5670 levels , a halt is likely but a break would open the 1.5732/1.5825 levels.

Conclusion : The GBPUSD is likely to consolidate within 1.5420/1.5732 range, above 1.5732 will open 1.5940 next, while below 1.5420 will reverse risk towards the 1.5170 levels.

 

GBPUSD Daily Forecast Jul 24 2015

MARKET DATA

UPCOMING ECONOMIC EVENTS

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