Weekly technical analysis of GBP – USD July 11-15

Last week, we wrote “A failure in 6150/80 is expected to return to parity by 1.60. But nevertheless, the area of 5930/80 was to prevent a larger fall and will serve as entry points for a return to- over 1.60 “and this weekend we returned to 6057 with poor U.S. figures.

Parity seems to have found this week points of support to halt the decline temporarily started in early May. It comforts us at the moment the idea that we could stay for some time between 1.60 and 1.67. However this still depends on it this week that we could go back to 6150 for 6250 and 6330.

The daily MACD is bullish and 6150 will be the key between a confirmation of the bullish reversal or continuation of macd down. Thus, each back in 5950 and 1.60, to weaken the bull.

This week, we have many statistics and U.S. as we know, they are not very good. May be, can we enjoy and seek 6250. Conversely, we must pay attention to the unemployment rate English 13 July. Disappointment could lose a pound profit earned at the same time we bring back test lows, weakening the daily macd that could turn around. As a result, sellers can sell for a return 6180/6230/50 under 1.60.

Our advice for the week, we remain moderately buyer points between 5950 and 5980 for 6080/6150

We sell 6250/6180 to 5980/5930
We buy for 5950/5980 6080/6150/6230/50

Statistics that can influence the currency pair:

July 12 FOMC Minutes
July 13 Unemployment GB
Fed’s Bernanke on July 14 testifies
July 15 U.S. Inflation

Related posts:

  1. Weekly technical analysis of GBP- USD July 4-8
  2. Weekly technical analysis of GBP- USD 27 – 1 July
  3. Weekly technical analysis of GBP-USD June 20-24
  4. Weekly forex technical analysis GBP- USD, July 25-29,2011
  5. Weekly Forex Technical Analysis of the dollar against sterling 18 to 22 April

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