GBPUSD Daily Forecast Nov 07 2014

UK kbhars
UK kbhars

The GBPUSD continued its bearish momentum yesterday , printed resistance at the 1.6021 levels .This development leaves the pair targeting the 1.5725 levels , a halt is likely , but a cut would open 1.5600 next , further downside will aim the 1.5450 levels.

On the upside , resistance comes at the 1.5925 levels ahead of the 1.6021 levels (main) , a clear break above the 1.6021 levels will turn outlook neutral for retesting the 1.6085/1.6183 levels before the next fall.

In all , as long as resistance 1.6021 holds on a daily closing basis , outlook in GBPUSD remains on the downside towards the 1.5725 levels ahead of the 1.5600 levels. Above 1.6021 will bring limited gains towards  1.6085/1.6183 levels.


GBPUSD Daily Forecast Nov 07 2014




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