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    Technical analysis of GBP/USD for July 9, 2015

    1436441011_GBPUSDH1.png

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    Forecast:

    • The GBP/USD pair will call for downside momentum rather convincing. The structure of a rise does not look corrective. If case of indicating a bearish opportunity below the level of 1.5491, it will be a good sign to sell at 1.5490 with the first target at 1.5437 (the daily pivot point). The pair is likely to continue its bearish move towards 1.5330.

    Review:

    • According to the previous events, the GBP/USD pair is going to move between 1.5491 and 1.5330.
    • The resistance will be set at the level of 1.5490 and the support has already been placed at 1.5330.
    • We expect a new range about 325 pips this week.
    • The key level is seen at 1.5437 because it represents a weekly pivot point on July 9 ,2015.
    • The level of 1.5566 is going to represent the double top.
    • By the way, the GBP/USD pair is still calling for strong bearish market from the level 1.5491/1.5500.
  • The resistance will be set at the level of 1.5490 and the support has already been placed at 1.5330.
  • We expect a new range about 325 pips this week.
  • The key level is seen at 1.5437 because it represents a weekly pivot point on July 9 ,2015.
  • The level of 1.5566 is going to represent the double top.
  • By the way, the GBP/USD pair is still calling for strong bearish market from the level 1.5491/1.5500.
  • Technical levels:

    • It should be noted that if there is no significant news to influence, the price will be moving from pivot point to resistance 1 or support 1. But if there is significant news to influence, the price may go straight through resistance 1 or support 1 and reach resistance 2 or support 2 and even resistance 3 or support 3.
    • Resistance 3: 1.5640
    • Resistance 2: 1.5566
    • Resistance 1: 1.5491
    • Pivot: 1.5437
    • Support 1: 1.5330
    • Support 2: 1.5290
    • Support 3: 1.5249
  • Resistance 3: 1.5640
  • Resistance 2: 1.5566
  • Resistance 1: 1.5491
  • Pivot: 1.5437
  • Support 1: 1.5330
  • Support 2: 1.5290
  • Support 3: 1.5249

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