GBPUSD – Weekly Forecast 09-13 Dec 2013

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Recommendations: LONG positions above 1.6260 with 1.6430 & 1.6510 as next target.
Alternative scenario:The downside breakout of 1.6260 will call for a slide to 1.6180/1.6100.
Description: Stability above the the key support 1.6260 will keep the bullish momentum intact with risk towards 1.6430/1.6510 levels, break of 1.6510 would open 1.6590 ahead of 1.6670 levels.On the downside ,support comes at 1.6260 levels, losing this level would weaken the current bullish run for retesting 1.6180/1.6100 levels before the next possible rise.

Support and resistance levels  : 1.6020, 1.6100, 1.6180 , 1.6260 (Pivot) , 1.6370 , 1.6430, 1.6510 , 1.6590

Also read : GBPUSD – Monthly Forecast Dec 2013

 

 

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