GBPUSD Daily Forecast Aug 20 2014


The GBPUSD continued its bearish momentum yesterday , printed resistance at the 1.6737 levels .This development leaves the pair targeting the 1.6450  levels , a halt is likely , but losing this level would open 1.6250 next , further downside will aim the 1.6000 levels…

On the upside , resistance comes at the 1.6656 levels ahead of the 1.6737  levels , break of the 1.6737  levels on a daily basis will turn outlook neutral towards the 1.6838 levels ahead of the 1.6888 levels……

In all , as long as resistance 1.6737 holds on a daily closing basis , outlook in GBPUSD remains on the downside towards the 1.6450  levels and possible lower towards the 1.6250 levels….break of the 1.6737 levels on a daily basis will reverse risks towards the 1.6838/1.6888  levels before the next fall……..


GBPUSD Daily Forecast Aug 20 2014