Saturday, August 2, 2014

GBP/USD Technical Analysis Next Week outlook

12:19 AM
GBP/USD drops further to as low as 1.6802 so far today and intrude bias remains on the downside. As noted before, a medium term top could be formed at 1.7190 already and the trend is reversing. Deeper fall should be seen to 1.6692 key support level for confirmation. On the upside, above 1.6894 minor resistance will turn bias neutral and bring consolidations. But recovery should be limited below 1.7058 resistance and bring fall resumption.

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