GBPUSD Daily Forecast Apr 11 2017

GBPUSD: Bearish Despite Recovery Attempts!


GBPUSD: Bearish Despite Recovery Attempts!

Outlook in GBPUSD remains on the downside as long as 1.2428/1.2477 resistance holds on a daily closing basis, support comes at the 1.2365 levels, a cut through that levels would open 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 at the 1.2428 levels, above that level sees recovery threats to the 1.2477 levels where fall resumption is very likely, anyway; 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 1.2428/1.2477 levels…



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