GBPUSD Daily Forecast Apr 17 2018

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GBPUSD: Bullish Eyes Further Upside!

As long as 1.4295 support holds on a daily closing basis, the GBPUSD remains on the upside to the 1.4345 levels ahead of the 1.4385 levels, a halt is likely and it may correct lower before the next leg up, however, above 1.4385 will aim the 1.4481 levels, further upside, resistance comes at the 1.4580 levels.

On the downside, support comes at the 1.4295 levels, a daily closing back below that level will suggest a short-term topping and turn the focus on the 1.4230/1.4187 levels before another rise, below 1.4187 will extend the corrective pullback to the 1.4105 levels, next support comes at the 1.3993 levels.

Conclusion: The GBPUSD continues to face upside threats above the 1.4295 levels.

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