short-term buying and selling points. Long-term looking, this pair still has a bullish potential and we believe that as long as we are above 1.55 handle pair has a chance of a rebound and break above 1.58 handle where we expect significant amount of resistance which extends all the way to 1.60 area. With that being the case we would wait for a pullbacks and supportive candles around 1.55 handle in order to start buying the pair. Alternatively if we see decisive break below 1.55 handle we would reassess the situation.
Last modified on Friday, 03 July 2015GBP/USD Weekly Forecast – 06 July – 10 July
Sterling did not manage to break above 1.58 handle, despite initial tries and rather good PMI data, and spent most of the week in a downtrend with a weekly closing below 1.56 handle. Next week focus will be on Industrial Production figures, but overall it should be a steadier week in which pair is likely to find initial support around 1.55 handle and 1.5450 area in extension and resistance above 1.57 handle, so these would be our
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419