GBPUSD Daily Forecast Nov 04 2015

Short term outlook in GBPUSD remains neutral at the moment, the pair stays in a recovery mode as long as trades above the 1.5308 levels, resistance comes at the 1.5450/1.5525 levels where rejection is very likely, however; further upside resistance comes at the 1.5585 levels.

On the downside, a rejection from the 1.5450/1.5525 levels could mean a return to the support 1.5308, a halt is likely but a cut would open 1.5225 next, further down support comes at the 1.5130 levels.

Conclusion: The GBPUSD continues to face upside risks above the 1.5308 levels, below 1.5308 faces a fall risk towards the 1.5225/1.5130 levels before the next rise….

Note: minor support comes at the 1.5400 levels, above 1.5400 will keep pushing towards 1.5450/1.5525 levels, below 1.5400 will turn focus on main support 1.5308……


GBPUSD Daily Forecast Nov 04 2015