GBPUSD Daily Forecast Apr 06 2018

GBPUSD: Bearish Eyes The 1.3875 Levels!


GBPUSD: Bearish Eyes The 1.3875 Levels!

The GBPUSD maintained a bearish momentum yesterday, topped at the 1.4097 levels and bottomed at the 1.3965 levels. This development leaves the pair targeting the 1.3875 levels. A halt is likely and it may turn higher from here but a cut through the 1.3875 levels will turn the focus on the 1.3745 levels, further down, support comes at the 1.3615 levels.

Note: A 4-hour closing below 1.3965 will accelerate the expected bearish move to the 1.3875 levels.

On the upside, resistance comes at the 1.4015 levels ahead of the 1.4097 levels(main), a daily closing above 1.4097 will turn outlook neutral and pave the way to the 1.4200 levels, above 1.4200 will turn outlook bullish and aim the 1.4277 levels.

Conclusion: The GBPUSD sees downside threats below the 1.4097 levels.