GBP/USD Forecast: Resistance at 1.5749 might be tested – FXStreet

FXStreet (Barcelona) – Omkar Godbole, FXStreet Editor and Analyst, expects GBP/USD to make a move towards the resistance at 1.5749 today.

Key Quotes

“On the 4-hour chart, a repeated struggle to take out the resistance at 1.5749 (23.6% Fib R of 1.5169-1.5928) pushed the pair lower to 1.57 levels. Given the Greek crisis, the European desks are likely to offer the GBP in the early European session.”

“In case, the pair manages to take support around 1.5660-1.5650 and move back above 1.57, then the resistance at 1.5749 could be put to test later in the day.”

“On the downside, a break below 1.5638 (38.2% Fib R of 1.5169-1.5928) could open doors for 1.5580 levels.”

Omkar Godbole, FXStreet Editor and Analyst, expects GBP/USD to make a move towards the resistance at 1.5749 today.

(Market News Provided by FXstreet)