GBPUSD Monthly Forecast Oct 2018

GBPUSD: Bearish Despite Recovery Attempts!

As long as 1.3362 resistance holds on a monthly closing basis, the GBPUSD remains on the downside to the 1.2588 levels in the long-term forecast. A halt is likely and it may turn higher from here, but a cut through support would open 1.2100, further down, support comes at the 1.1500 levels.

On the upside, resistance comes at the 1.3362 levels, above that level sees recovery threats to the 1.3754/1.4375 levels before another fall…

Conclusion: The GBPUSD continues to face downside threats below the 1.3362 levels in the long-term forecast…

Support: 1.3117, 1.2588, 1.2100

Resistance: 1.3362, 1.3754, 1.4375