GBPUSD Daily Forecast Feb 07 2017

GBPUSD, Bearish Eyes The 1.2550 levels...

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GBPUSD, Bearish Eyes The 1.2550 levels…

Outlook in GBPUSD remains on the downside as long as 1.2486 resistance holds on a daily closing basis, support comes at the 1.2250 levels, a halt is likely and a reversal may occur, however; below 1.2250 will open 1.2118, further down, support stands at the 1.2000 levels…

On the upside, resistance comes at the 1.2486 levels, a break will restore the upside momentum and turn the focus on the 1.2700/1.2773 levels…

Conclusion: The GBPUSD continues to face downside threats below the 1/2486 levels…

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