GBPUSD Weekly Forecast Apr 14 2014

Pound-Dollar-7676-ert

The GBPUSD continued its bullish momentum last week , printed support at the 1.6563 levels  and topped at the 1.6820  levels . This development leaves the pair targeting  the 1.6920  levels where a breach will turn focus on the 1.7040 levels , further upside will aim the 1.7185  levels.

On the downside , support comes at the 1.6683 levels ahead of 1.6563 (main) , stability above support levels will keep pushing towards the 1.6920  levels , however ; sustained trading – weekly closing –  below the 1.6563 levels  will turn outlook neutral for retesting  1.6458/1.6382 levels before the next possible rise.

In all , as long as support  1.6563 holds on a weekly closing basis , the GBPUSD will remain based to the upside towards the 1.6920 levels ahead of the 1.7040 levels , below 1.6563 will reverse risks towards the 1.6458/1.6382 levels.

 

GBPUSD Weekly Forecast Apr 14 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS

1 COMMENT

  1. Wow that was strange. I just wrote an extremely long comment but after I clicked submit my comment didn’t appear. Grrrr… well I’m not writing all that over again. Regardless, just wanted to say fantastic blog!|

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