GBPUSD Weekly Forecast May 26 2014

Pound-Dollar-7676-ert

No change , outlook in GBPUSD remains neutral this week with risk for both sides , on the upside : resistance comes at the 1.6900 levels , a break would open 1.6995 (main) , a halt is strongly suggested , but sustained trading – weekly closing – above 1.6995 will extend gains towards the 1.7100 levels ahead of the 1.7200 levels.

On the downside , support comes at the 1.6730 levels , a break would open main support at 1.6563 levels , a halt is likely , but sustained  trading  – weekly closing below this level would open 1.6458 levels , losing this level will bring a free fall towards the 1.6000 levels.

In all , the GBPUSD is likely to consolidate within 1.6458/1.7000 range before the next move .

GBPUSD Weekly Forecast May 26 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS