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GBPUSD Daily Forecast: October 07

Thursday, October 6, 2016 21:46
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GBPUSD Forecast
The Cable plunges earlier today after French president François Hollande called for a hard Brexit for the UK. The GBP/USD fell 5% and hit 1.2000 level but recovered quickly traded around 1.2425 at the time I wrote this comment. The bias is neutral in nearest term. I will stand aside for now. As you can see on my daily chart below, price is making a hammer formation. Overall I remain bearish, but if the hammer formation confirmed by the end of the day, we may see a bullish correction/reversal next week.


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  • Things have really gone into another level this week with another Brexit type thing occurring, I believe we always have to be prepared for such stuff. I have been able to make great profits even with such unexpected events, it’s all because of following the trend and that becomes possible with broker like OctaFX since they support me pretty well using their swap free account, it works so nicely and keep everything relatively simple and straight forward for me to work with.

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