GBPUSD Daily Forecast Oct 04 2018


GBPUSD: Bearish But Hesitates Ahead Of  Key Support 1.2933

No change, as long as 1.3010 resistance holds on a daily closing basis, the GBPUSD remains on the downside to the 1.2933 levels, a halt is likely but a cut would open 1.2845, further down, support comes at the 1.2785 levels.

On the upside, a sustained breakout – daily closing recommended – above 1.3010 levels would open 1.3072 levels where a rejection is likely, above 1.3072 will aim the 1.3178 levels.

Conclusion: The GBPUSD continues to face downside threats below 1.3010 levels, above that level, sees limited gains below 1.3178 before another fall…

Support: 1.2933, 1.2845, 1.2785, 1.2710

Resistance: 1.3010, 1.3072, 13178, 1.3268

Key data/events which may affect GBPUSD today:

The U.S will release the weekly report on jobless claims at 12:30 GMT. Although the news is medium in importance, Thursday and Friday are the most important days of the week where the big and unexpected movements usually occur during these two days (mostly for political reasons). Anyway: Initial Jobless Claims is expected to fall 211K, from 214K in the previous week.