GBPUSD targets 1.6700 , support 1.6425 !

The GBPUSD maintained a bullish momentum yesterday , bottomed at the 1.6425 levels  and topped at the 1.6600 levels. This development leaves the pair targeting the 1.6700 levels , a halt is suggested but a breach will turn focus on the 1.6800 levels , further out will call for a run towards the 1.6940 levels.

On the downside , support comes at the 1.6425 levels , losing this level on a daily closing basis will confirm short term topping and open 1.6260 levels , a cut  will extend losses towards the 1.6170/1.6130 levels.

In all , the GBPUSD will remain based to the upside with risk towards 1.6700 levels ahead of 1.6800 levels as long as support 1.6425 holds on a daily closing basis , losing this level will reverse risks to the downside towards the 1.6260 levels.

Views: 231


Comment by Haitham653 on February 14, 2014 at 11:56am

GBPUSD (Weekly Chart) : There’s a scope for 1.7000 ahead of 1.7200 levels the upcoming weeks as long as 1.6380 holds , stay tuned for updates..


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