GBPUSD Weekly Forecast Jun 16 2014


The GBPUSD continued it bullish momentum last week ,topped at the 1.6991 levels and printed support at the 1.6737 levels .This development leaves the pair targeting the 1.7075 levels , a halt is likely , but a break would open 1.7175 next , further upside will aim the 1.7290 levels.

On the downside , support comes at the 1.6845 levels ahead of 1.6737 ( main) , stability above support levels will keep the bullish momentum intact , however ; losing the 1.6737 levels on a weekly closing basis will reverse risks towards the 1.6563/1.6382 levels , before the next possible rise.

In all , as long as support 1.6737 holds on a weekly closing basis , outlook in GBPUSD remains on the upside towards the 1.7075 levels ahead of the 1.7175 levels .Below 1.6737 will reverse risks towards the 1.6563/1.6382 levels……


GBPUSD Weekly Forecast Jun 16 2016