GBPUSD Weekly Forex Forecast - 9th to 13th Jan 2017

GBPUSD Weekly Forex Forecast – 9th to 13th Jan 2017

Please Help Us Spread the Good Word!

Print Friendly

GBPUSD Weekly Forex Forecast – 9th to 13th Jan 2017

The GBPUSD is in the process of establishing a base or a consolidation from which hopefully a new upside leg can emerge. As long as we’re trading above 1.2228 and more importantly above 1.2200 we still favor the bullish case, however a break below these levels will threaten 1.2020 the new multi decade swing low. The first month of the year is always important for the direction of the trend however we still have to wait for a clear breakout on either side before making a strong case for a bullish or bearish trend.

The stochastic indicator is also in the process of resetting and we can read a build up in bullish momentum as well. For further confirmation we’ll need a break of the previous week high 1.2432, but more importantly the big psychological number 1.2500 is the line in the sand.

The UK economic calendar looks mild as no major risk event is scheduled on the docket. The only notable new event is the Manufacturing Production figures which are scheduled to be released on Wednesday and based on the market consensus we should expect positive figures, up from -0.9% to 0.6% which, at least in theory should be bullish for GBPUSD.


Thank you for your readership. We are truly grateful!

Hope that you like the strategies that we share.
If you like the strategies here, you will absolutely
love our latest strategy...

The MorningPips Trading System

The aim of Morningpips is to finish trading by the morning.
Simple as that... Check it out!


Previous GBPUSD Weekly Forex Forecast

GBPUSD Weekly Forex Forecast – 9th to 13th Jan 2017 – Sideways

Please Help Us Spread the Good Word!




4 Comments

  1. FRANCISCO ANTONIO DE ARAUJO SILVA says:

    minha conta

  2. FRANCISCO ANTONIO DE ARAUJO SILVA says:

    resover probema de minha comta

  3. RASAQ AYOOLA says:

    True experience is the best teacher

Leave a Reply

Your email address will not be published. Required fields are marked *

*

Download Our Sniper Trader Trend Following System

x