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GBPUSD Daily Forecast: October 11

Monday, October 10, 2016 18:31
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(Before It's News)

GBPUSD Forecast
The GBPUSD attempted to push higher yesterday topped at 1.2444 but closed lower at 1.2359. The bias is bearish in nearest term testing 1.2300 area but only a clear break below 1.2000 would cancel the hammer formation bullish correction/reversal scenario. Immediate resistance is seen around 1.2400. A clear break above that area could lead price to neutral zone in nearest term testing 1.2450 or higher.


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