GBPUSD Daily Forecast Nov 05 2014

UK kbhars
UK kbhars

Outlook in GBPUSD  has turned neutral with risk to the downside , resistance comes at the 1.6015 levels , a failure to hold above the 1.6015 levels on a daily closing basis could mean a return to the 1.5925 levels , a cut will resume the whole fall towards the 1.5850  levels , a halt is likely , but losing the 1.5850  levels will continue losses towards the 1.5770/1.5670 levels .

On the upside , resistance comes at the 1.6015 levels , sustained trading – daily closing – above the 1.6015  levels will put the pair in recovery mode , but upside move above the 1.6015 levels should be limited  by the 1.6183  levels .

In all , as long as resistance 1.6015  holds on a daily closing basis , outlook in GBPUSD remains on the downside towards the 1.5925/1.5850 levels , a clear break above the 1.6015 levels will bring recovery towards  the 1.6085/1.6183 levels before the next fall..

 

GBPUSD Daily Forecast Nov 05 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS