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┬ámonthly employment report is likely to bring a buying opportunity…


GBPUSD Weekly Forecast

Forex Weekly Forecast Sept 11 2017

EURUSD, Bullish Eyes The 1.2357 Levels! The EURUSD continued its bullish momentum last week, bottomed at the 1.1867 levels and topped at the 1.2091 levels. This development leaves the pair targeting the 1.2357 levels, a halt is likely and a reversal may occur, however; a break would open 1.2569 levels, further upside, resistance comes at […]