21 July, AtoZForex.com, Milano — Technically Weekly/Daily GBPUSD outlook eyes are on the 1.5530 level. (4:55GMT)
Calendar of the week.
TOMORROW
BoE MPC vote (09:30 GMT)
U.S. Existing Home Sales (15:00 GMT)
THURSDAY
Retail Sales (09:30 GMT)
FRIDAY
U.S. New Home Sales (15:00 GMT)
Chart 1: Weekly/Daily GBPUSD eyes on 1.5530 (Click on the image to enlarge)
My S/R setup is the following:
First support: 1.5530 (weekly trendlines)
if First support’s breakout then ->
-> Second support: 1.5440 (converging weekly trendlines)
if breakout then ->
-> Third support: 1.5397 (weekly trendlines)
Chart 2: H4 GBPUSD (Click on the image to enlarge)
if breakout then ->
-> Fourth support: 1.5310 (fibo extension)
First resistance: 1.5660
if First resistance’s breakout then ->
-> Second resistance: 1.5760 (fibo extension, weekly trendlines)
if breakout then ->
-> Third resistance: 1.5880 (converging weekly trendlines)