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GBPUSD Daily Forecast: October 13

Wednesday, October 12, 2016 20:57
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GBPUSD Forecast
The GBPUSD attempted to push higher yesterday topped at 1.2324 but closed lower at 1.2203. The bias remains neutral in nearest term. My major technical outlook remains bearish but only a break below 1.2000 would cancel the hammer formation bullish correction/reversal scenario as you can see on my daily chart below. Immediate resistance is seen around 1.2230. A clear break above that area could trigger further bullish pressure testing 1.2300/25 region. Immediate support is seen around 1.2150 but key support remains at 1.2000.


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