GBPUSD Daily Forecast Oct 13 2014

Pound-Dollar-7676-ert

Outlook in GBPUSD remains  neutral as long as support 1.5951 holds on a daily closing basis , resistance comes at the 1.6166 levels , a clear break would open 1.6285 levels , further upside will pave the way towards the 1.6415/1.6525 levels.

On the downside , support comes at the 1.600 levels ahead of the 1.5951 levels (main) . losing the 1.5951 levels is needed to restore the downside momentum ,If seen , next support would be 1.5853 levels where a cut will open 1.5750 levels , further downside will aim 1.5680  levels.

In all , as long as support 1.5951 holds on a daily closing basis , recovery above the 1.5951 levels is likely to resume , but It should be limited by the 1.6285/1.6525  levels , below 1.5951 will resume the bearish move towards the 1.5853 /1.5750  levels.

 

GBPUSD Daily Forecast Oct 13 2014

 

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