GBPUSD: Bullish, Faces Further Upside Risk …
The GBPUSD remains on the upside as long as 1.2730 support holds on a weekly closing basis. Resistance comes at 1.2885/1.3100 levels, a halt is likely, but a break would open 1.3333 next, further upside, resistance stands at the 1.3550 levels.
On the downside, support comes at 1.2730 level ahead of 1.2515 level (main). Below 1.2515 faces corrective pullback threats to 1.2315 level where consolidation is likely above that level.
In conclusion: The GBPUSD sees upside threats above 1.2515/1.2730 levels in the medium-term forecast.
Support: 1.2730, 1.2515, 1.2315, 1.2075
For today (Monday): As long as 1.2780 support holds on a daily closing basis. The GBPUSD remains on the upside to 1.2920 levels ahead of 1.3080 levels. Below 1.2780 sees corrective pullback threats to 1.2664, 1.2515 before another rising.
Support: 1.2780, 1.2664, 1.2515, 1.2400, 1.2290
Key data/events which may affect GBPUSD this week:
- U.S Core Durable Goods Orders (MoM) (Jun) on Monday at 12:30 GMT.
- CB Consumer Confidence (Jul) on Tuesday at 14:00 GMT.
- Fed Interest Rate Decision on Wednesday at 18:00 GMT.
- FOMC Press Conference on Wednesday at 18:30 GMT.
- U.S GDP (QoQ) (Q2) on Thursday at 12:30 GMT.
- U.S Initial Jobless Claims on Thursday at 12:30 GMT.
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