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GBPUSD Daily Forecast: October 14

Thursday, October 13, 2016 19:47
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GBPUSD Forecast
The GBPUSD was indecisive yesterday. The bias remains neutral in nearest term. Overall I remain bearish but as long as stay above 1.2000 the hammer formation bullish correction/reversal scenario should remain valid. Immediate support is seen around 1.2180. A clear break below that area could trigger further bearish pressure testing 1.2100 region. Immediate resistance is seen around 1.2275. A clear break above that area could trigger further bullish pressure testing 1.2325 area or higher.

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  • Trading at the moment is seriously tough to do with the situation market seems to be in, it will be interesting to see where everything else go by, but we must be very careful to make sure we don’t do anything silly since only then we will be able to gain maximum. I am very fortunate to be with OctaFX given their mind blowing features and facilities with low spreads, high leverages plus they also have daily market updates, it’s all easy to work out!

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