GBPUSD Daily Forecast Dec 17 2014

Uk min
Uk min

Outlook in GBPUSD has turned to the upside as long as support 1.5678/1.2600 holds on a daily closing basis , resistance comes at the 1.5785 levels , a break would open 1.5850 next ., a halt is likely , but a breach will target the 1.5940 levels , further gains will pave the way towards the 1.6022 levels.

On the the downside , support comes at the 1.5678 levels ahead of the 1.5600 levels (main) , losing the 1.5600 levels on a daily closing basis will terminate the last bullish run and open 1.5540/1.5500 levels.

In all , as long as 1.5678/1.5600 support holds on a daily closing basis , outlook in GBPUSD remains on the upside towards the 1.5785/1.5850 levels , below 1.5600 will reverse risk towards the 1.5540/1.5500 levels.

Intraday : support comes at the 1.5683 levels ahead of the 1.5600 levels (main) , stability above the 1.5683 levels on a 4 hour closing basis is needed to keep the bullish momentum intact, below 1.5683 should weaken the current bullish run and open main support at the 1.5600 levels before the next rise !!!

 

GBPUSD Daily Forecast Dec 17 2014

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