GBPUSD Daily Forecast Oct 02 2018


GBPUSD: Risk Remains Lower To The 1.2933 Levels!

As long as 1.3072 resistance holds on a daily closing basis, the GBPUSD remains on the downside to the 1.3000 levels, a halt is likely but a cut would open 1.2933 levels, it may correct higher to test 1.3000 before another fall, however; below 1.2933 will aim the 1.2850 levels, further down, support comes at the 1.2785 levels.

On the upside, above 1.3072 sees a recovery risk to the 1.3178 levels (main) where another fall is likely, above 1.3178 should weaken recent fall and turn the focus on the 1.3268 levels.

Conclusion: The GBPUSD continues to face downside threats below the 1.3072 levels.

Support: 1.3000, 1.2933, 1.2850, 1.2785

Resistance: 1.3072, 13178, 1.3268, 1.3362

Key data/events which may affect GBPUSD today:

A selling opportunity is likely for GBPUSD after News…

1-U.K Construction PMI (Sep): at 08:30 GMT. The indicator is expected to fall 52.8, from 52.9 in the previous month.

2-Fed Chair Powell Speas: at 16:00 GMT. He will speak about employment and inflation expectations at the annual meeting of the National Association for Business Economics in Boston. Questions may be asked after the speech. (Volatility is expected).