Technical Outlook for GBPUSD 17-6-2015

Technical Outlook for GBPUSD

Gbp/Usd pair move yesterday in the average price movement of 111 PIPs, it records the highest level at 1.5654 the lowest levels at 1.5542 levels and closed at 1.5648 levels to Gain 51 pips according to the yesterday’s economic data.

The pair opened today at 1.5648 oscillatory between

the 1.5625 and the 1.5651 levels during the Asian session in a

trading average 26 pips for the poor liquidity in the market...

The pair is moving in a series of down corrective waves and till now the pair settled above 1.55.

And now the pair is trading close to our yesterday’s target at 1.5680

It is expected that the pair Pound against the dollar will go to targeted level at 1.5740 in the next few hours According to economic data today.

And in we are looking for at 09:00 for Average Earnings Index, Claimant Count Change and MPC Official Bank Rate Votes

And the Relative Strength Indicator "RSI" show us accumulation operations at the market and the control of Bulls on the market

Medium term trend: up

Support levels: 1.5575 and 1.5502 and 1.5463

Resistance levels: 1.5687 and 1.5726 and 1.5799

For more Technical Outlook fxstations