GBPUSD Daily Forecast Apr 17 2014


The GBPUSD  continued its bullish momentum yesterday ,printed support at the 1.6720 levels .This development leaves the pair targeting 1.6915 levels , a halt is likely , but a break would open 1.7040 next , further upside will aim the 1.7177 levels .

On the downside , support comes at the 1.6748 levels ahead of 1.6720 (main) , stability above support levels will keep the bullish momentum intact , but losing the 1.6720 levels on a daily basis will turn outlook neutral  for retesting 1.6656/1.6600 levels before the next rise…

In all , as long as support 1.6720 holds on a daily closing basis , outlook in GBPUSD will remain to the upside towards the 1.6915 levels ahead of the 1.7040 levels. Losing the 1.6720 levels will reverse risks towards the 1.6656/1.6600 levels .


GBPUSD Daily Forecast Apr 17 2014