GBPUSD Weekly Forecast Aug 18 2014

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Outlook in GBPUSD remains on the downside as long as resistance 1.6765/1.6888 holds on a weekly closing basis , support comes at the 1.6650 levels ,  a halt is likely , but – sustained trading – or losing the 1.6650 levels on a weekly basis would open 1.6500 next , further downside will aim the 1.6350 levels….

On the upside , resistance comes at the 1.6765 levels ahead of the 1.6888 levels . break of the 1.6888 levels  will turn outlook neutral for the 1.7035/1.7190  levels , a halt could be seen , but break of the 1.7190  levels will open 1.7300  levels…

In all , as long as resistance 1.6765/1.6888  holds on a weekly closing basis , outlook in GBPUSD remains on the downside towards the 1.6650 levels and  possible lower towards the 1.6500 levels , break of 1.6765/1.6888 levels will reverse risks towards the 1.7035/1.7190 levels…

GBPUSD Weekly Forecast Aug 18 2014

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