GBPUSD Daily Forecast Feb 27 2015

Uk min
Uk min

Despite rejection from 1.5539 levels , outlook in GBPUSD remains on the upside , resistance comes at the 1.5539 levels , sustained breakout – daily closing – above this level will target 1.5619 levels , a halt is likely , but a clear break will pave the way towards the 1.5785 levels , further upside will target the 1.5941 levels …

On the downside , support comes at the 1.5393 levels , a failure to hold below the 1.5393 levels  on a daily closing basis could mean a return to the 1.5551 /1.5619 levels , however ; losing the 1.5393 levels on a daily closing basis will build strong pressure on main support at the 1.5342 levels where rejection is suggested , If 1.5342 fails on a daily closing basis . This scenario will terminate the current bullish run and open the 1.5103 levels ahead of the 1.4950 levels……..

In all , as long as 1.5342/1.5393 support holds on  a daily closing basis , outlook in GBPUSD remains on the upside towards the 1.5551/1.5619 levels , below 1.5342 will reverse risk towards the 1.5103/1.4950 levels..

 

GBPUSD Daily Forecast Feb 27 2015

 

MARKET DATA

UPCOMING ECONOMIC EVENTS