GBPUSD Daily Forecast Mar 03 2015

Uk min
Uk min

Outlook in GBPUSD remains neutral with risk to the upside as long as 1.5342 support holds on a daily closing basis , but the pair has printed resistance at the 1.5428 levels yesterday . What’s that supposed to mean ?!!!!

Sustained breakout – daily closing above the 1.5428 levels will expose the 1.5551 levels and open the 1.5620 levels , a halt is likely but a break would open 1.5785 next , further upside will target 1.5941 levels …

On the downside , a failure to hold above the 1.5428 levels will build pressure on main support at the 1.5342 levels , however ; sustained breakout – daily closing – below the 1.5342 levels will suggest short term topping at the 1.5551 levels and open the 1.5103 levels , a halt is suggested but a cut will bring a lower leg below the 1.4950 levels …

In all , as long as 1.5342 support holds on a daily closing basis , outlook in GBPUSD remains on the upside towards the 1.5428 levels ahead of the 1.5620 levels , a clear break below the 1.5342 levels will terminate the last bullish run and open the 1.5103/1.4950 levels …

 

GBPUSD Daily Forecast Mar 03 2015

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