GBPUSD Monthly Forecast July 2014

Pound-Dollar-7676-ert

The GBPUSD continued its bullish momentum last month , topped at the 1.7114 levels , printed support at the 1.6698 levels . This development leaves the pair targeting the 1.7740 levels the upcoming months , a halt is likely and we might see a top around this area , so we could track the pair on the weekly time frame looking for reversal patterns…

On the downside , support comes at the 1.6995 levels ahead of the 1.6698 levels ( main) , stability above support levels will keep the bullish momentum intact , However ; sustained trading – monthly closing – below the 1.6698 levels will turn outlook neutral for retesting the 1.6251 levels before the next possible rise..

In all , as long as support 1.6698 holds on a monthly closing basis , outlook in GBPUSD remains on the upside the upcoming months towards the 1.7740 levels , below 1.6698 will reverse risks towards the 1.6251 levels…

In the long term view , the pair is bullish as long as 1.5528 holds on a monthly basis , so any decline below the 1.6698 levels should be contained well by any of these levels : 1.5528 , 1.5853 , 1.6251 ……

 

GBPUSD Monthly Forecast July 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS