GBPUSD – Weekly Forecast 15 Jul 2013

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The GBPUSD maintained a bullish momentum last week, bottomed at 1.4813 and topped at 1.5221, now pressure will be on the key resistance 1.5221, the GBPUSD will have to hold above the 1.5221 levels on a weekly closing basis to push the market for further upside gains, If seen, it will target the 1.5475 levels where a breach will turn the focus on the 1.5750 levels.

Alternatively, a failure to hold above the 1.5221 levels could mean a return to the 1.4813 levels where a breach will turn the focus on the 1.4700 levels ahead of 1.4400 levels.

In all, the GBPUSD is likely to consolidate within 1.4813/1.5750 range for a couple of weeks before the next move.

 

MARKET DATA

UPCOMING ECONOMIC EVENTS