22/07 – GBPUSD outlook eyes on 1.5530


22 July, AtoZForex.com, Milano — Technically Weekly/Daily GBPUSD outlook eyes are on the 1.5530 level. (5:52GMT)

NEWS THAT CAN HAVE AN IMPACT:

  • UK. BOE MPC VOTE (09:30 GMT)
  • U.S. EXISTING HOME SALES (15:00 GMT)

As per my yesterday’s outlook, 1.5530 made his job as First support. GBP/USD reacted bouncing (slightly) again after testing it for the second time a row this week.

Calendar of the week.

TOMORROW
Retail Sales (09:30 GMT)

FRIDAY
U.S. New Home Sales (15:00 GMT)

GBPUSD outlook 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)

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GBPUSD outlook 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)

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