GBPUSD Weekly Forecast Nov 16 2015

Medium term outlook in GBPUSD has turned neutral at the moment, resistance comes at the 1.5262 levels, a failure to hold above the 1.5262 levels on a weekly closing basis could mean a return to the 1.4955 levels, a halt is likely and a reversal may occur, however, a cut through the 1.4955 levels will open 1.4800 next, further down, support comes at the 1.4625 levels.

On the upside, resistance comes at the 1.5262 levels, a break will put the pair in a recovery mode and pave the way towards the 1.4500 levels, further upside, will extend recovery towards the 1.5658 levels.

Conclusion: The GBPUSD continues to face downside threats below 1.5262 levels, above 1.5262 faces a recovery risk towards 1.5500 levels.

 

GBPUSD Weekly Forecast Nov 16 2015

MARKET DATA

UPCOMING ECONOMIC EVENTS