GBPUSD – Weekly Forecast 16-20 Dec 2013

Pound-dollar-9865315asdfg.jpg

Recommendations: SHORT positions below 1.6360 with 1.6270 & 1.6180 as next targets.
Alternative scenario:The upside breakout of 1.6360 will call for a rebound to 1.6465/1.6617.
Description: Stability below the the key resistance 1.6360 will keep the pair under pressure with risk towards 1.6260 levels, losing 1.6260 would open 1.6177 levels , at this point I’d expect strong support from 1.6177 levels to bring rebound to the upside towards 1.6360 levels, but If 1.6177 fails on a daily basis, a free fall will be in sight towards 1.5990/1.5885 levels…On the upside ; resistance is at 1.6360 levels , break of 1.6360 on a daily basis would challenge/expose 1.6465 levels , above 1.6465 would target 1.6617 next.

Support and resistance : 1.5885 , 1.5990 , 1.6177 (main) , 1.6260 , 1.6360 (Critical) , 1.6465 , 1.6617

 

MARKET DATA

UPCOMING ECONOMIC EVENTS

2 COMMENTS

Comments are closed.