GBPUSD Weekly Forecast Apr 07 2014

Pound-Dollar-7676-ert

Outlook in GBPUSD remains neutral this week , support comes at the 1.6551  levels , a halt is likely , losing this level would open 1.6458 next , further downside will aim the 1.6382 levels . At this point I’d expect strong support from the 1.6382 levels to contain fall from the 1.6821 levels and bring rally resumption , sustained trading – weekly closing – below the 1.6382 will open 1.6132/1.6050 levels….

On the upside , resistance comes at the 1.6683 levels ,sustained trading above this level will suggest that fall from 1.6821 is over at the 1.6458 levels , If seen , the pair will recapture 1.6740/1.6821 levels , a breach would open 1.6900/1.7000 next.

In all , the GBPUSD  is likely to consolidate within 1.6551/1.6683 levels before the next move…

 

GBPUSD Weekly Forecast Apr 07 2014

 

MARKET DATA

UPCOMING ECONOMIC EVENTS

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