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| Technical Outlook for GBP/USD 6-7-2015 |
Gbp/Usd pair move Last Friday in the average price movement of 85 Pips, it records the highest level at 1.5643 the lowest levels at 1.5557 levels and closed at 1.5572 to Lose 34 pips according to Friday’s economic data.
The pair opened today at 1.5541 to make a gap with 30 pip After Greeks rejected the terms of the creditors through a yesterday’s referendum.
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 1.5660 in the next few hours According to economic data today.
Today at 14:00 we are looking for ISM Non-Manufacturing PMI from USA
And 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: 1.5538 and 1.5504 and 1.5452
Resistance levels: 1.5624 and 1.5676 and 1.5710
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