GBPUSD Daily Forecast Oct 30 2018

0
29
Dollar-Pound-698546-9898oiuy

GBPUSD: Bearish, Eyes Further Downside!

As long as 1.2865 resistance holds on a daily closing basis, the GBPUSD remains on the downside to 1.2775 level, a halt is likely but a cut would open 1.2680 level, further down, support comes at 1.2625 level ahead of 1.2533 level.

On the upside, resistance comes at 1.2865, above that level sees recovery threats to 1.2950 level before another fall.

Conclusion: The GBPUSD continues to face downside threats below 1.2865 level.

Support: 1.2775, 1.2680, 1.2625, 1.2533

Resistance: 1.2865, 1.2950, 1.3015, 1.3130

Key data/events which may affect EURUSD today:

  • The U.S will release data on consumer confidence for Oct at 14:00 GMT. The forecast is to fall to 136.0, from 138.4 in the preceding month. A selling opportunity is likely.

MARKET DATA

UPCOMING ECONOMIC EVENTS