GBPUSD Daily Forecast Jul 24 2014

Pound-Dollar-7676-ert

Outlook in GBPUSD remains on the downside as long as resistance 1.7082 holds on a daily closing basis , support comes at the 1.7040 levels , losing this level would open 1.7000 levels , a halt is likely ,and buyers might back to the market form this point ,  but losing the 1.7000 levels will open 1.6950 next , further losses will aim the 1.6880 levels…

On the upside , resistance comes at the 1.7082 levels , break of 1.7082 on a daily basis will turn outlook neutral for retesting the 1.7143 levels before the next fall ; To reverse risks to the upside , sustained trading – daily closing – above 1.7143 is needed , If seen , 1.7190 is likely to get exposed , next resistance comes at the 1.7240/290 levels…

In all , as long as resistance 1.7082 holds on a daily closing basis , outlook in GBPUSD remains on the downside towards the 1.7000 levels and possible lower towards the 1.6950 levels , break of the 1.7082 would only delay the bearish move for retesting the 1.7143 levels before the next fall………

 

GBPUSD Daily Forecast Jul 24 2014

MARKET DATA

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