GBPUSD Weekly Forecast Feb 02 2015

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UK456 mdy8yt

Outlook in GBPUSD remains on the downside as long as 1.5150 resistance holds on a weekly closing basis , support comes at the 1.4900 levels , a halt is likely but a cut would open the  1.4800 levels , further down will pave the way towards the 1.4725/1.4500 levels.

On the upside , resistance comes at the 1.5150 levels , break of the 1.5150 levels on a weekly closing basis will signal short term bottoming and open 1.5318/1.5540 levels before the next possible fall…

In all , as long as 1.5150 resistance holds on a weekly closing basis , outlook in GBPUSD remains on the downside towards the 1.5000 levels ahead of the 1.4900 levels , sustained trading above the 1.5150 levels will reverse risk towards 1.5318/1.5540 levels before the next possible fall.

In the medium forecast , any rebound should be contained well below the 1.5539 levels , stability below this level on weekly closing basis will keep the pair very bearish even in case of recovery , break of the 1.5539 levels will confirm bottoming and open 1.6000 levels …

 

GBPUSD Weekly Forecast Feb 02 2015

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