GBPUSD Daily Forecast Nov 09 2018

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GBPUSD: Under Pressure, Faces Corrective Threats!

As long as 1.3054 resistance holds on a daily closing basis, the GBPUSD remains in a pullback mode and further down could be seen. Support comes at 1.3000 level. A halt is likely, it may test 1.3045 before attempts to break below 1.3000. Anyway; below 1.3000 aims 1.2960 level, further down, support comes at 1.2963 level ahead of 1.2918 level.

On the upside, above 1.3054 aims 1.3130 level. A halt is likely, but a break will restore the upside momentum and pave the way to 1.3255/1.3300 levels.

Conclusion: The GBPUSD sees corrective threats below 1.3054 level.

Support: 1.3000, 1.2963, 1.2918, 1.2850

Resistance: 1.3054, 1.3130, 1.3255, 1.3300

Key data/events which may affect GBPUSD today:

The U.S will report on producer price inflation at 13:30 GMT. The forecast is to rise 0.3%, from 0.2% in the preceding month. Above forecast will support USD.

MARKET DATA

UPCOMING ECONOMIC EVENTS