GBPUSD Daily Forecast Oct 20 2014

GBP
GBP

Outlook in GBPUSD remains neutral with risk to the downside , resistance comes at the 1.6096 levels , a failure to hold above the 1.6096 levels on a daily closing basis could mean a return to the 1.6050 levels  , below 1.6050 will aim the 1.5873  levels , a cut will open the 1.5800  levels , a halt is likely , but losing the 1.5800  levels will continue losses towards the 1.5700  levels .

On the upside , resistance comes at the 1.6096  levels , sustained trading – daily closing – above the 1.6096 levels will put the pair in recovery mode , but upside move above the 1.6096 levels should be limited  by the 1.6285  levels .However ; a clear break above the 1.6285  levels will turn outlook bullish towards the 1.6415/16525  levels before the next move….

In all , as long as resistance 1.6096  holds on a daily closing basis , outlook in GBPUSD  remains on the downside towards the 1.6050/1.5873  levels , ahead of the 1.5800 levels , a clear break above the 1.6096 levels will bring recovery towards  the 1.6225/1.6285  levels before the next fall..

 

GBPUSD Daily Forecast Oct 20 2014

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