GBPUSD Daily Forecast Apr 10 2017

GBPUSD: Pullback Fades, Risk Turns Lower To 1.3300 Levels!

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GBPUSD: Pullback Fades, Risk Turns Lower To 1.3300 Levels!

The GBPUSD maintained a bearish momentum on Friday, topped at the 1.2477 levels and bottomed at the 1.2365 levels. This developmentĀ leaves the pair targeting the 1.3300 levels. A halt is likely and a reversal may occur here, however; a cut through that level would open 1.2220 levels, further down, support stands at the 1.2115 levels.

On the upside, immediate resistance comes around 1.2420 levels ahead of 1.2477 levels (main), sustained breakout – daily closing – above 1.2477 levels will turn outlook neutral for retesting 1.2568 levels before the next falling…

Conclusion: The GBPUSD continues to face downside threats below the 1.2477 levels with risk to the 1.3300 levels, above 1.2477 sees recovery threats to the 1.2568 levels before the next falling…

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