GBPUSD Daily Forecast Nov 08 2018


GBPUSD: Bullish, But Around Critical Resistance!

As long as 1.3054 support holds on a daily closing basis, the GBPUSD remains on the upside to 1.3155 level. A halt is likely, it may test 1.3054 before another rise. However; above 1.3155 aims 1.3280 level, further upside, resistance comes at 1.3415 level.

On the downside, support comes at 1.3054 level, a cut through support opens 1.2963 before another rise. Anyway; below 1.2963 sees a pullback risk to 1.2918 level ahead of 1.2852 level.

Conclusion: The GBPUSD still faces upside threats above 1.2963/1.3054 levels.

Support: 1.3054, 1.2963, 1.2918, 1.2850

Resistance:1.3155, 1.3280, 1.3415, 1.3520

Note: Minor resistance comes at 1.3095 level.

blankKey data/events which may affect GBPUSD today:

The Fed will announce its latest monetary policy decision and publish its rate statement at 19:00 GMT.