GBPUSD – Weekly Technical Analysis – 24 Jun 2013

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The GBPUSD  maintained a bearish momentum last week. Topped at 1.5750 and bottomed at 1.5367. Now the pressure will be on the key support 1.5367. The GBPUSD will have to hold, below the 1.5367 levels on a weekly closing basis to push the market for further downside losses. If seen. It will target the 1.5260 levels ahead of 1.5130. A further break will turn the focus on the 1.5000 levels.

Alternatively , a failure to hold  below the 1.5367 levels could mean a return to the 1.5750 levels, If seen that would be a great chance to short after rejection on daily with target towards 1.5200 levels, to overcome its weakness and the bearish threat , the pair needs to hold above the 1.5750 levels on a weekly closing basis, otherwise, the risk will remain strong to the downside with risk towards 1.5000 levels even in case of bullish correction.

MARKET DATA

UPCOMING ECONOMIC EVENTS

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