GBPUSD Weekly Forecast Sept 01 2014


Outlook in GBPUSD remains on the downside as long as resistance 1.6765/1.6888 holds on a weekly basis , support comes at the 1.6563 levels , losing this levels would open 1.6450 /1.6382  next , further downside will aim the 1.6251 levels . At this point I’d expect strong support from the 1.6251/1.6450 levels to contain fall from the 1.7190 levels and bring rebound . however ; sustained trading – weekly closing below the 1.6250 levels will bring free fall towards the 1.6058 levels ahead of the 1.5855 levels…

On the upside , resistance comes at the 1.6656/ 1.6765 levels ahead of the 1.6888 levels (main) ,  break of the 1.6888 will bring strong recovery towards the 1.7190 levels , If this important resistance is taken out , expect the pair to strengthen further towards the 1.7325/1.7515 levels…

In all , as long as resistance 1.6656/1.6765 holds on a weekly closing basis , outlook in GBPUSD remains on the downside toward the 1.6450/1.6251 levels, above 1.6765 will turn outlook neutral for retesting the 1.6888 levels before the next fall….



GBPUSD Weekly Forecast Sept 01 2014




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