GBPUSD Weekly Forecast Dec 15 2014

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UK456 mdy8yt

Weekly outlook in GBPUSD has turned neutral with risk to the downside , resistance comes at the 1.5756 levels , a failure to hold above the 1.5756 levels on a weekly closing basis could mean a return to the 1.5540 levels where a cut will bring a free fall towards the 1.5350 levels , further down will pave the way towards the 1.5150 levels .

On the upside ,  resistance comes at the 1.5756 levels , break of the 1.5756 levels on a weekly closing basis will put the pair in recovery mode , but recovery above the 1.5756 levels should be limited by the 1.5941 levels , however ; break of the 1.5941 levels on a weekly closing basis will bring limited gains below the 1.6237 levels before the next fall.

In all , as long as 1.5756 resistance holds on a weekly closing basis , outlook in GBPUSD remains on the downside towards the 1.5540 levels ahead of the 1.5350 levels , above 1.5756 levels will bring limited gains towards the 1.5941 levels before the next fall.

Note that a rejection from the 1.5756 levels followed by a cut below the 1.5540 levels will bring a sell-off towards the 1.5000 levels.

Key data/events which may influence GBPUSD next week :

Monday , Dec 15 2014

  • US NY Empire State Manufacturing Index (Dec) .
  • US Industrial Production (MoM) (Nov) .
  • US Treasury International Capital (TIC) Net Long-Term Transactions (Oct).

Tuesday , Dec 16 2014

  • BOE Gov Carney Speaks .
  • UK Consumer Price Index (CPI)  (YoY) (Nov) .
  • US Building Permits (Nov) .
  • US Housing Starts (MoM) (Nov) .

Wednesday , Dec 17 2014

  • UK Average Earnings Index +Bonus (Oct) .
  • UK Claimant Count Change (Nov) .
  • US Core Consumer Price Index (CPI)  (MoM) (Nov).
  • US FOMC statement . 
  • US Fed Interest Rate Decision followed by Fed’s Monetary Policy Statement and press conference .

Thursday , Dec 18 2014 

  • UK Retail Sales (MoM) (Nov) .
  • US Initial Jobless Claims .
  • US Services PMI (Dec) .
  • US Philadelphia Fed Manufacturing Index (Dec) .

 

GBPUSD Weekly Forecast Dec 15 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS