GBPUSD – Intraday Forecast 16 Jan 2014

GBPUSD– Intraday Forecast 16 Jan 2014 (Under Pressure)

Recommendations: SHORT positions below 1.6405 with 1.6330 & 1.6300 as next targets.
Alternative scenario:
The upside breakout of 1.6405 will open 1.6450/1.6480 levels.
Description: 
Intraday bias in GBPUSD is on the downside as long as resistance 1.6405 holds on an hourly basis with risk towards 1.6330 ahead of 1.6300 levels, On the upside, break of 1.6405 on an hourly basis would reverse risks to the upside and bring rebound towards 1.6450 ahead of 1.6480 levels.

 

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