GBPUSD Daily Forecast Nov 06 2015

The GBPUSD maintained a bearish momentum yesterday, topped at the 1.5401 levels, and bottomed at the 1.5204 levels. This development leaves the pair targeting the 1.5130 levels, a halt is likely and a reversal may occur, however; a cut through the 1.5130 levels would open 1.5035 next, further down, support comes at the 1.4900 levels.

On the upside, resistance comes at the 1.5260/1.5315 levels ahead of the 1.5400 levels (main), a break will turn outlook neutral towards the 1.5522 levels before the next fall.

Conclusion: The GBPUSD continues to face downside threats below 1.5400 levels, above 1.5400 faces a recovery risk towards 1.5522 levels before the next fall….

Note: stability below 1.5205 levels will accelerate the expected bearish move, above 1.5205 may open 1.5260/1.5315 before the next fall…

GBPUSD Daily Forecast Nov 06 2015