GBPUSD Daily Forecast Jul 01 2014


The GBPUSD continued its bullish momentum yesterday ,topped at the 1.7114 levels &  printed support at the 1.7007 levels . This development leaves the pair targeting the 1.7170 levels , a halt could be seen , but a breach will turn focus on the 1.7235 levels , further upside will aim the 1.7300 levels.

On the downside , support comes at the 1.7051 levels ahead of 1.7007 ( main) , stability above support levels will keep the bullish momentum intact , however ; sustained trading – daily closing – below 1.7007 will turn outlook neutral for retesting the 1.6951/1.6917  levels before the next possible rise .

In all ,as long as support 1.7007  holds on a daily closing basis , outlook in GBPUSD remains on the upside with risk towards the 1.7170 levels ahead of the 1.7235 levels , below 1.7007 will reverse risks towards the 1.6951/1.6917 levels before the next rise…


GBPUSD Daily Forecast Jul 01 2014