Support : 1.6339
Strong Support : 1.6218 as last two weeks
Resistance : 1.6582 as last two weeks
Trading Range : 1.6216 – 1.6401 around 200 points .
By the end of this week , likely it
seems trading range will be in 1.6216 - 1.6339
Trend : Globaly trend seems in bearrish . GBP clearly seems in
Potential Down and targeting to its strong support in
1.6218
HIMAWAN FOREX method :
In last two weeks GBP are traded in sideways ranging area . So there’s no significant changing since last week . I still use last two weeks indicator to put the Support and Resistance levels for Trading Signal in this week.
STRONG SUPPORT line is still placed in level 1.6218 as last two weeks forecast.
First Support is placed in 1.6339 and this level seems potentialy breaked
RESISTANCE line is still placed in 1.6582 s last two weeks forecast .
Trend Line below ( in white color ) start in point where tail of candlestick hit the middle Bolinger . While Trend line upper ( in white color ) start in point where upper tail of candle stick hit the Resistance level line .
VOLUME indicator shows green lines ( long position ) appears but only once than red line ( short position ) comes twice. This shows trend will potential down turn.
To predict trading level range area , I’m using FIBONACCI lines ;
-FIBO 100.0 in level 1.6403 as I've been used since two weeks.
This level still relevant because in last two weeks GBP traded in Sideways
ranging area
-Opposite with last week forecast in this week forecast , as GBP's
potential Down Turn , I put FIBO 0.0 in level 1.6218 which is
STRONG SUPPORT level
ECONOMIC CALENDAR :
Important Economic Calendar with relevant impact for GBP / USD is :
July 9th :
Trade Balance : Last : -7.00 , forecast : -6.65
Trade Non EU : Last : -4.12 , forecast : -3.9
shows not a significant improvement of GBP economic , and that makes
investors put in a doubt of GBP's economic recovery
