GBPUSD Daily Forecast Jan 22 2016

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Outlook in GBPUSD remains on the downside as long as 1.4252 resistance holds on a daily closing basis, support comes at the 1.4057 levels, a halt is likely, but a cut would open 1.3900 next, further down, support comes at the 1.3787 levels.

On the upside, resistance comes at the 1.4252,¬†above 1.4252 faces a recovery risk towards the 1.4351 levels before the next fall, further upside will extend recovery towards the 1.4510 levels…

Conclusion: Despite recent recovery, the GBPUSD continues to face downside threats below the 1.4252 levels…

GBPUSD Daily Forecast Jan 22 2016

 

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