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| Technical Outlook for GBP/USD 29-6-2015 |
Gbp/Usd pair move last Friday in the average price movement of 58 PIPs, it records the highest level at 1.5767 the lowest levels at 1.5709 levels and closed at 1.5747 to Gain just 5 pips according to Friday’s economic data.
The pair opened today at 1.5682 to make a gap with 65 pips and then the pair Rise to cover this gap at 1.5746 and now the pair is trading around 1.5700
The pair is moving in a series of down corrective waves although after breaking the price channel.
And we saw the pair went down to trade close to our target at 1.5640
It is expected that the pair Pound against the dollar will go to targeted level at 1.5640 in the next few hours According to economic data today.
And the Relative Strength Indicator "RSI" show us distribution operations at the market and the control of Bears on the market
Medium term trend: down
Support levels: 1.5715 and 1.5683 and 1.5657
Resistance levels: 1.5773 and 1.5799 and 1.5831
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