GBPUSD Weekly Forecast Dec 22 2014

uk02 avoswg
uk02 avoswg

The GBPUSD continued its bearish momentum last week , topped at the 1.5785 levels and bottomed at the 1.5339 levels. This development leaves the pair targeting the 1.5365 levels , a halt is likely , but a cut will pave the way towards the 15140 levels ahead of the 1.4900 levels .

On the upside , resistance comes at the  1.5785 levels (main) , break of the 1.5785 levels on a weekly closing basis is needed to signal short term bottoming ,If seen , risk will be reversed towards the 1.5941 levels  ahead of the 1.6237 levels !! otherwise risk remains on the downside , even in case of recovery !….

In all , as long as 1.5785 resistance holds on a weekly closing basis , outlook in GBPUSD remains on the downside towards the 1.5365 levels ahead of the 1.5140 levels , a clear break above the 1.5785 levels is needed to reverse risk towards the 1.5941/1.6237 levels…

 

GBPUSD Weekly Forecast Dec 22 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS