GBPUSD Weekly Forecast Apr 21 2014


The GBPUSD continued its bullish momentum last week , bottomed  at the 1.6656 levels  and topped at the 1.6840  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 1.6656 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 , Outlook in the GBPUSD  remains on 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 21 2014