GBPUSD direction is impossible to judge with no clear direction for a month. holding below 1.5560/55 meets better support at 1.5535/30. Try longs with
GBP/USD Daily Forecast - 12 August 2015GBPUSD direction is impossible to judge with no clear direction for a month. holding below 1.5560/55 meets better support at 1.5535/30. Try longs with stops at 1.5505. Holding below 1.5535/30 however targets 1.5495/90 then a buying opportunity at 1.5475/70.
We are bouncing back to 1.5555/60 as I write. Above here today again re-targets resistance at 1.5590/95. Shorts need stops 1.5620. Target1 @ 1.5555, target2 @1.5530. However be ready to buy a break above 1.5630 to target resistance at 1.5665/75. This area has done an excellent job of holding moves higher in each of the last 4 weeks & we should struggle here therefore again this week. Try shorts with stops above late July highs at 1.5689. Be ready to buy a break above 1.5700 to target 1.5730/35 then 1.5770/75.
FX Empire editorial team consists of professional analysts with a combined experience of over 45 years in the financial markets, spanning various fields including the equity, forex, commodities, futures and cryptocurrencies markets.
