GBPUSD analysis

posted by genuinelyFX at 06/30/2015 - 19:00 GMT

Looks like pound is forming a base here. We might be just in a first wave of a complex correction, but we could be seeing 1.58 very soon.

GBPUSD 2H chart


If the support at 1.57 holds, it could break the 50% fib level above 1.6000.

GBPUSD weekly line


A similar move in time from the end of ’99 looks for a proportional correction towards 1.64-65 area.

GBPUSD daily data


A trade towards 1.58, reaching for tomorrow. Will see if it could break above, or continue sideways.

GBPUSD hourly data