GBPUSD has not had any important data this week. On Thursday after the data showed that British retail sales rose more then expected GBPUSD jumped but it was subsequently subdued by the USD strength. As we can see on the H4 chart with Weekly CAM PP, 1.5350 is important for bulls. If the pair manages to hold above 1.5350, bounces to 1.5450-1.5500 are possible. However if the price closes below 1.5350 then 1.5300, 1.5240 and 1.5170 are possible.
From the context of a possible GBPUSD bounce below 1.5350, we can see 1.5170 strong confluence with 88.6 fib and historical buyers so 1.5170 could provide bounces towards 1.5350. At this point I am paying attention to any H4/D close below or above 1.5350.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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