GBPUSD: Weekly Outlook Negative

Published 12/17/2013, 06:36 AM
Updated 05/14/2017, 06:45 AM

GBPUSD beat resistance at 1.6310 for a selling opportunity at 1.6335/40 & topped almost exactly here at 1.6348. Try this trade again today with stops above 1.6365. Next selling opportunity at 1.6385/90 with stops above 1.6420.

Below 1.6310 however keeps the market under pressure for 1.6290/85 then a retest of 1.6260 lows. Below here look for good support at 1.6215 & a buying opportunity.
GBP/USD
Weekly outlook is negative with any strength offering a selling opportunity. Unlikely we make it as far as 1.6445/65 again but only a daily close above here will rescue bulls. A break below 1.6200 adds pressure for 1.6070.

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