Recap for the week 25-29th Jul
The beginning of the week saw limited scalps of 80-90 pips. The trend was bearish but was unable to hit a lower low. Huge support at 1.30488. Mid week was more of the weakness of the dollar than the strength of the pound. This pair managed to hit a higher high though but still with a huge resistance at 1.33.
GBPUSD Outlook: 01 Aug 2016 - 05 Aug 2016
High Impact (in red) expected on the following days (GMT +8)
Mon - (Aussie market is closed) 9.15am, 4.30pm, 10pm
Tue - 4.30pm, 8.30pm
Wed - 4.30pm, 8.15pm, 10pm
Thu - 7pm, 7.30am, 8.30pm, 10pm
Fri - 3.30pm, 8.30pm
Fib levels
100 - 1.35317
61.8 - 1.32504
50 - 1.31633
38.2 - 1.30761
23.6 - 1.29686
0.0 - 1.27933
Weekly
H - 1.33004
L - 1.30565
O - 1.31425
C - 1.32223
Friday
H - 1.33004
L - 1.31473
O - 1.31616
C - 1.32223
Wed - 4.30pm, 8.15pm, 10pm
Thu - 7pm, 7.30am, 8.30pm, 10pm
Fri - 3.30pm, 8.30pm
Fib levels
100 - 1.35317
61.8 - 1.32504
50 - 1.31633
38.2 - 1.30761
23.6 - 1.29686
0.0 - 1.27933
Weekly
H - 1.33004
L - 1.30565
O - 1.31425
C - 1.32223
Friday
H - 1.33004
L - 1.31473
O - 1.31616
C - 1.32223
Expect a bouncy scalped week between 1.32504 and 1.31633. If breaks, 1.31173.
Upside, resistance is at 1.33 if breaks; 1.33137, 1.33460, 1.3410.
Downside, any breaks below 1.31172 will see us back to the price level of 1.30762.
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