GBPUSD Weekly Forecast Oct 19 2015


Medium term outlook in GBPUSD remains neutral with risk to the upside in the short term outlook, the pair is in a recovery mode as long as trades above the 1.5187/1.5315 levels on a weekly closing basis, and further upside towards the 1.5567/1.5658 levels couldn’t be ruled out, a break will extend recovery towards the 1.5817 levels, further upside, resistance comes at the 1.5929 levels.

On the downside, immediate support comes at the 1.5430 levels, a clear break below this level will open at the 1.5315/1.5187 levels before the next rise, however, a cut through the 1.5187 levels, will extend the pull back towards the 1.4955 levels before the next possible rise…

Conclusion: The GBPUSD continues to face upside threats in the medium term above the 1.5187/1.5315 levels, even in case of a pullback……


GBPUSD Weekly Forecast Oct 19 2015