GBPUSD Weekly Forecast 13 -17 Jan

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Recommendations: LONG positions above 1.6372 with 1.6530 & 1.6580 as next targets.
Alternative scenario:The downside breakout of 1.6372 will call for a slide to 1.6320/1.6270.
Description:The GBPUSD  maintained some bullish momentum last week , stability above the key support  1.6372 on a 4 hour closing basis will keep the bullish momentum intact , resistance comes at 1.6530 levels ahead of 1.6580 (main) , around this level we might see hesitation, but  break of 1.6580 level on a 4 hour closing basis will open 1.6630/1.6680 levels next.On the downside , main support comes at 1.6372 levels , losing this level on a 4 hour closing basis would weak the last bullish run and open 1.6320/1.6270 levels, below 1.6270 would target 1.6215 levels…

Support & resistance : 1.6215 ,1.6270 ,1.6320 , 1.6372 (Pivot)1.6430,1.6480 , 1.6530 , 1.6580 ,1.6630

 

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