GBPUSD Daily Forecast Jan 06 2015

Uk min
Uk min

Outlook in GBPUSD has turned neutral with risk to the downside , resistance comes at the 1.5318 levels , a failure to hold above the 1.5318 levels on a 4 hour closing basis could mean a return to the 1.5166 levels , a cut would open 1.5000 next , further down will target the 1.4900 levels.

On the upside , resistance comes at the 1.5318 levels , break of the 1.5318 levels on a 4  hour closing basis will put the pair in recovery mode , but recovery above the 1.5318 levels should be limited by the 1.5475/1.5550 levels where fall resumption is likely .

In all , as long as 1.5318 resistance holds on a 4 hour closing basis, outlook in GBPUSD remains on the downside towards the 1.5166 levels ahead of the 1.5000 levels , above the 1.5318 levels will bring rebound towards the 1.5475/1.5550 levels before the next fall..

Note that stability below the 1.5318 levels on a daily closing basis will keep the pair under heavy pressure , break of the 1.5318 levels on a daily closing basis will suggest short term bottoming and open 1.5550/1.5600 levels before the next possible fall…

 

GBPUSD Daily Forecast Jan 06 2015

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