GBPUSD Daily Forecast Nov 19 2014

No change , outlook in GBPUSD remains on the downside as long as resistance 1.5775/1.5823 holds on a daily closing basis , support comes at the 1.5592 levels , a cut would open 1.5500 next , a halt is likely , but further losses will aim the 1.5375 levels ahead of the 1.5240 levels.

On the upside , resistance comes at the 1.5775/1.5823 levels , a break will turn outlook neutral and bring recovery towards the 1.5941 levels before the next fall.

In all , as long as resistance 1.5775/1.5823 holds on a daily closing basis , outlook in GBPUSD remains on the downside towards the 1.5592/1.5500 levels ahead of the 1.5375 levels , above the 1.5775/1.5823 levels will bring recovery towards the 1.5941 levels before the next fall!

Today focus will be on Bank of England’s policy Meeting Minutes at 09:30 , later on the day , US Building Permits (MoM) (Oct) at 13:30  . followed by the high importance FOMC Meeting Minutes at 19:00, high volatility is strongly suggested ……… * All times are GMT.

 

GBPUSD Daily Forecast Nov 19 2014

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