GBPUSD Daily Forecast Sept 19 2014

Pound-Dollar-7676-ert

The GBPUSD continued its bullish momentum yesterday , printed support at the 1.6245 levels and topped at the 1.6408 levels , this development leaves the pair targeting the 1.6500 levels, a halt is likely  , but further upside will aim the 1.6630 levels ahead of the 1.6740 levels..

On the downside , support comes at the 1.6245 levels , sustained trading – daily closing – below this level will terminate he current bullish run and turn outlook towards the 1.6051 levels…

In all , as long as support 1.6245 holds on a daily closing basis , outlook in GBPUSD remains on the upside towards the towards the 1.6500 levels and possible higher towards the 1.6630 levels , below 1.6245 levels will turn outlook towards the 1.6051 levels…

Notes:

1- Stability above the 1.6408 levels on a daily basis will turn 1.6408 levels to a strong support , below 1.6408 will reverse risks again towards the 1.6245 levels..

2- Despite the bullish move we have seen lately , the pair remains in recovery mode , a clear break above the 1.6500 levels will turn outlook bullish …….conclusion : the pair is currently on overbought zone , above the 1.6500 will turn outlook bullish , below 1.6245 will confirm topping and open 1.6051 levels and possible lower ………

 

GBPUSD Daily Forecast Sept 19 2014

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