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| Technical Outlook For Gbp-Usd 7-7-2015 |
Gbp/Usd pair move yesterday in the average price movement of 95 PIPs, it records the highest level at 1.5603 the lowest levels at 1.5534 levels and closed at 1.5604 to Lose 42 pips according to yesterday’s economic data.
The pair opened today at 1.5604 oscillatory between the 1.5584 and the 1.5609 levels during the Asian session in a trading average of 25 pips for the limitation of the market liquidity, and in the European session the pair went down to 1.5555
The pair is moving in a series of down corrective waves and achieved our target at 50% FIBO retracement
It is expected that the pair Pound against the dollar will go to targeted level at 1.5511 in the next few hours According to economic data today.
Today at 08:30 we are looking for manufacturing production m/m from UK
The Relative Strength Indicator "RSI" show us distribution operations at the market and the control of Bears on the market
Medium term trend: up
Support levels: 1.5557 and 1.5511 and 1.5488
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