GBPUSD Weekly Forecast Mar 03 2014


The GBPUSD continued its bullish momentum last week, printed support at the 1.6582 levels . This development leaves the pair targeting the 1.6821 levels where a breach is likely , If seen , It will target  the 1.7000 levels , a halt is suggested , but break of 1.7000 levels will turn focus on the 1.7330 levels.

On the downside , a bearish correction towards the 1.6690/1.6640 levels is likely before attacking the 1.7000 levels , losing the 1.6640 levels would challenge main support 1.6582 levels ,note that  any downside move should be contained by the 1.6582 levels  , but losing the 1.6582 levels will signal short term topping and reverse risks towards the 1.6382 levels.

In all , as long as support 1.6582 holds on a weekly basis , the GBPUSD will remain based to the upside towards the 1.7000 levels ahead of 1.7330 levels. Losing the  1.6582 levels will reverse risks towards the 1.6382 levels.


GBPUSD Weekly Forecast Feb 04 2014