GBPUSD Daily Forecast Nov 13 2014

The GBPUSD  continued its bearish momentum yesterday , printed resistance at the 1.2941 levels (as suggested before).This development leaves the pair targeting the 1.5666 levels , a halt is likely , but a cut would open 1.5520 next , further downside will aim the 1.5370 levels.

On the upside , resistance comes at the 1.5835 levels ahead of the 1.5941 levels (main) , a clear break above the 1.5941  levels will turn outlook neutral for retesting the 1.6022 levels , further upside will extend recovery towards the 1.6125/1.6183 levels.

In all , as long as resistance 1.5835/1.5941 holds on a daily closing basis , outlook in GBPUSD  remains on the downside towards the 1.5666 levels ahead of the 1.5520 levels. Above the 1.5941 levels faces a recovery risk towards the 1.6022 levels ahead of the 1.6125/1.6183 levels.


GBPUSD Daily Forecast Nov 13 2014