Outlook in GBPUSD remains on the upside as long as as 1.5740 support holds on a 4-hour closing basis, resistance comes at the 1.5815 levels, a halt is likely, but a clear break would open 1.5940 next, further upside will target the 1.6025 levels.

On the downside, support comes at the 1.5740 levels, sustained breakout below the 1.5740 levels will suggest short term topping and bring a corrective pullback towards the 1.5632 levels before the next rise, however; a clear break below support 1.5632 will suggest large reversal towards the 1.5354 levels..

In all, as long as 1.5740 support holds on a 4-hour closing basis, outlook in GBPUSD remains on the upside and the pair may extend higher beyond the 1.5815 levels towards the 1.5940 levels, below 1.5740 faces a pullback risk towards the 1.5632 levels before the next rise…

Views: 61

Comment

You need to be a member of Forex Social Network to add comments!

Members

© 2018   Created by FXStreet.   Powered by

Badges  |  Report an Issue  |  Terms of Service

Offline

Live Video