GBPUSD Daily Forecast Aug 15 2014

Pound-Dollar-7676-ert

The GBPUSD declined as suggested few days ago reached the 1.6692 levels as said before , Outlook in GBPUSD remains on the downside as long as resistance 1.6756/1.6838 holds on a daily closing basis , support comes at the 1.6688 levels , losing this level on a daily closing basis is needed to resume the downside move , If seen , next target would be the 1.6550 levels , a halt is likely , but further losses will aim the 1.6375 levels.

On the upside , resistance comes at the 1.6756 levels ahead of the 1.6838 levels (main) , stability below resistance levels will keep the bearish momentum intact , however ; break of the 1.6838 levels on a daily closing basis is needed to signal short term bottoming , otherwise outlook will remain on the downside in case of recovery .

In all , as long as resistance 1.6756/1.6838 holds on a daily closing basis , outlook in GBPUSD remains on the downside towards the 1.6550 levels and possible lower towards the 1.6375 levels, break of the 1.6838 levels will turn outlook towards the 1.6888/1.7000 levels before the next possible fall.

 

GBPUSD Daily Forecast Aug 15 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS