GBPUSD Daily Forecast Jul 15 2014

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The GBPUSD maintained a bearish momentum yesterday , topped at the 1.7143 levels and bottomed at the 1.7069 levels , now pressure will be on the key support 1.7069……..

The GBPUSD will have to hold below the 1.7069 levels on a daily closing basis to push the market for further downside losses , If seen , It will target the 1.7035 levels next , further downside will pave the way towards the 1.7000 levels ahead of the 1.6955 levels.

Alternatively ; a failure to hold below the 1.7069 levels could mean a return to the 1.7143 levels , break of the 1.7143 levels on a daily  basis will recapture the 1.7179 levels ,If this resistance is taken out on a daily closing basis , expect the pair to strengthen further towards the 1.7210/1.7250 levels , further upside will aim the 1.7290 levels………

In all , as long as resistance 1.7143 holds on a daily closing basis , outlook in GBPUSD remains cautiously on the downside towards the 1.7035/1.7000 levels , break of the 1.7143 levels on a daily basis will turn outlook towards the 1.7179 levels and possible higher towards the 1.7250 levels……..

 

GBPUSD Daily Forecast Jul 15 2014

 

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