GBPUSD Daily Forecast Aug 28 2014

Pound-Dollar-7676-ert

Outlook in GBPUSD remains on the downside as long as resistance 1.6610 holds on a daily closing basis ,support comes at the 1.6535 levels , losing this level will open 1.6440 levels , a halt is likely , but further losses will aim the 1.6330 levels…

On the upside , resistance comes at the 1.6610 levels , break of the 1.6610 levels on a daily basis will turn outlook neutral towards the 1.6738/1.6838 levels before the next fall….however ; a clear break above the 1.6838 levels will terminate the current bearish run and bring strong recovery towards the 1.7040/1.7080 levels before the next move …

In all , as long as resistance 1.6610 holds on a daily closing basis , outlook in GBPUSD remains on the downside towards the 1.6535/1.6440 levels and possible lower towards the 1.6330 levels…break of the 1.6610 levels on a daily basis will turn outlook towards the 1.6738/1.6838 levels before the next fall….

 

GBPUSD Daily Forecast Aug 28 2014

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