GBPUSD Monthly Forecast April 2014


Despite hesitation last month , the GBPUSD has printed support at the 1.6251 levels on a monthly basis . As a result outlook  remains on upside , resistance comes at the 1.6821 levels , sustained trading above this level is needed to resume the upside offensive, If seen , It   should open 1.7041 levels  –  Aug 2009 high – where a breach  will pave the way towards the 1.7336 levels – May 2009 high – a halt is likely , but further upside will open  the 1.7440 levels – Sept 2009 low .

On the downside , a failure to take out 1.6281 levels could mean a return to the 1.6458 levels , a cut will open main support at the 1.6251 levels , a halt should be seen where resumption is suggested , If 1.6251 fails on a monthly basis , expect the pair weaken further towards the 1.5853 levels where strong rebound is suggested .

In all , as long as support 1.6251 holds on a monthly basis , the GBPUSD will remain based tot he upside towards the 1.7041 levels ahead of the 1.7336 levels , Below 1.6251 will reverse risks towards the 1.5853 levels before the next rise…


GBPUSD Monthly Forecast April 2014