14/08 – GBPUSD outlook eyes on 1.5530


14 August, AtoZForex.com, Milano — Technically Daily GBPUSD outlook eyes are on the 1.5530 level, with bearish momentum. (4:11GMT) 

NEWS THAT CAN HAVE AN IMPACT:

  • U.S. PRODUCER PRICE INDEX (13:30 GMT) 

My S/R view is still the following:

First support: 1.5530 (converging weekly trendlines)

GBPUSD outlook Chart 1: Daily GBPUSD eyes on 1.5530 (Click on the image to enlarge) 

if First support’s breakout then ->
-> Second support: 1.5440 (daily trendlines)

if breakout then ->
-> Third support: 1.5397 (weekly trendlines)

if breakout then ->
-> Fourth support: 1.5310 (fibo extension, 8th of July low area)

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GBPUSD outlook Chart 2: H4 GBPUSD (Click on the image to enlarge)

First resistance: 1.5660 (fibo extension)

if First resistance’s breakout then ->
-> Second resistance: 1.5760 (Daily fibo extension, weekly trendlines)

if breakout then ->
-> Third resistance: 1.5791 (H4 fibo extension, weekly trendlines)

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