GBP/USD Could Get Support At 1.6335/25 Levels Today Also
CommodityOnline | Dec 20, 2013 06:42AM ET
GBPUSD tested support at 1.6335/25 as predicted & bottomed exactly here. Watch this support again today & if we continue lower look for 1.6275 & possibly as far as 1.6240/30 which should hold the downside at this stage.
Immediate resistance at 1.6385 but above here we could reach 1.6420. This could hold a move higher but above here a selling opportunity seen at 1.6460/80. Only a daily close above here tonight will rescue bulls from profit taking next week.
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 1.6060. Reports will be delivered throughout the holiday period.
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