GBPUSD Daily Forecast Apr 05 2017

GBPUSD Sets To Consolidate...

Pound-Dollar-7676-ert

GBPUSD Sets To Consolidate…

Outlook in GBPUSD has turned neutral, the pair remains in a pullback mode as long as trades below the 1.2476 levels and further down could be seen, but downside should be limited by 1.2340 where rebound (consolidation) above this level is likely, however; below 1.2340 will open 1.2240 next, further down, support comes at the 1.2118 levels.

On the upside, resistance comes at the 1.2476 levels, above that level sees consolidation below main resistance 1.2568 levels, above 1.2568 will restore the upside momentum and turn the focus on the 1.2700 levels…

Conclusion: The GBPUSD remains under pressure below the 1.2476 levels with risk for a fall to the 1.2340 levels…

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