GBPUSD Daily Forecast Oct 23 2014

GBPUSD
GBPUSD

Outlook in GBPUSD has turned to the downside as long as resistance 1.6183 holds on a daily closing basis , support comes at the 1.5940 levels ahead of the 1.5873 levels (main) , a cut will open 1.5700 next , further downside will aim the 1.5600 levels.

On the upside resistance comes at the 1.6108 levels , a break would open 1.6183 (main) before the next fall, If this resistance is taken out , focus will be on the 1.6225/1.6286 levels.

In all , as long as resistance 1.6108/1.6183 holds on a daily closing basis , outlook in GBPUSD remains on the downside towards the 1.5940 levels ahead of the 1.5873 levels , break of the 1.6183 levels is needed to reverse risk to the upside , If seen , focus will be on the 1.6225/1.6286 levels.

Today focus will be on UK Retail Sales (MoM) (Sep)  at 08:30 GMT and US Initial Jobless Claims at  12:30 GMT.

 

GBPUSD Daily Forecast Oct 23 2014

 

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