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1. Forex Forecast
(18-8-2018)
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2. GBP/USD
GBPUSD is working on a natural part for the week as on the previous week we saw a
sharp fall in the prices from 1.300 handle where prices hit to the bottom of Aug 2017
and touched to 1.2800 on a border frame.
Analysing on the day charts we can feel a strong support on 1.2700 bracket which
could given a good sustainability to the prices to lift up for 1.2900 and 1.3000 round on
the way to upside it becomes important that the closing should not go bellow the
1.2600 brick.
Talking for the important levels on chart the initial support comes at 1.2680 and the
next support handle comes at 1.2550 looking on the resistance part we expect prices to
take a little rest at 1.2830 and the next resistance falls at 1.3000.
As the major release for GBP have been made for the week now we are remaining only
with the Inflation Report which is about to release on 28 Aug. Majorly, Monetary Policy
Committee of Bank Of England will be updating about the inflation and the economic
outlook before the Parliament’s Treasury Committee. Which will be given a high
volatility to the currency.

3. EURO
EURUSD gave a positive closing for the week, where the prices closed at 1.1440
which is 0.0063 points positive from the previous week, technically chart still
seems in down trend till 1.1200 to 1.1100 handle. Plotting on Day frame
1.1550 seems to the next resistance which if blown can lead the prices to
1.1650 marks. Else the immediate support falls at 1.1300.
Moving over the fundamentals or Data part we haven’t got any major
impacted release for this week.
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