GBP / USD: analysis and forecast
Trading week the pair GBP / USD opened gap down and reached the level of 1.5663. Pound followed after
European currency, which fell against the backdrop of the deepening Greek crisis.
Nevertheless it soon GBP / USD pair almost recovered its losses, rising
to the level of 1.5736.
Today, we are waiting for a large block of macroeconomic statistics from the UK,
Europe and the United States. In the United Kingdom, will be released the final data of GDP.
Expected slight increase from 0.3% to 0.4% for the quarter, and in
annualized GDP increase from 2.4% to 2.5%. In the United States will display
consumer confidence, he should rise from 95.4 to 97.3 points.
In the event that analysts forecast is justified, more likely
strengthening of the US currency and, consequently, the depreciation of GBP / USD.
The focus of investors this week will be focused on
Greece. While payment of debt to the IMF a compromise found. This situation
Athens is fraught for the default, which could have a significant pressure on the euro
and on the pound.
Support and Resistance
Resistance levels: 1.5802 (maximum 24 June), 1.5929 (maximum 18 June
the upper line of the indicator “Bollinger Bands”), 1.6000 (important level
resistance), 1.6100 (major resistance level).
Support levels: 1.5650 (Fibonacci correctional level of 38.2% of 1.5189
1.5565 (Fibonacci correctional level of 50.0% of 1.5189 – 1.5929,
the middle line “Bollinger Bands” indicator), 1.5480 (correction level
Fibonacci 61.8% of 1.5189 – 1.5929)
The purchase entry after the breakdown level of 1.5805 with the first target
at the level of 1.5929, and the second – at the level of 1.6000, stop loss can be set at the level
1.5790. The sale enter at around
1.5650 with the targets at the levels of 1.5565 and 1.5480, stop loss is set at around
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