GBPUSD Daily Forecast Apr 18 2017

GBPUSD: Bullish, But Hesitates Ahead Of 1.2600 Levels...


GBPUSD: Bullish, But Hesitates Ahead Of 1.2600 Levels…

Outlook in GBPUSD remains on the upside as long as 1.2521/1.2479 support holds on a daily closing basis, resistance comes at the  1.2600 levels. A cap may occur here and turn it lower but if that fails, it will turn outlook bullish – medium term – and more upside will be developed towards the 1.2680 levels, above that level will aim the  1.2735/1.2768 levels.

On the downside, support comes at the 1.2521 levels ahead of the 1.2479 levels, below 1.2479 will reverse risk to the downside and pave the way to the 1.2400 levels, further down, support stands at the 1.2340 levels.

Conclusion: The GBPUSD continues to face upside threats above the 1.2479 levels with risk to the 1.2600 levels, below 1.2479 sees a fall risk to the 1.2400 levels…