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GBPUSD Daily Forecast: October 18

Monday, October 17, 2016 20:38
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(Before It's News)

GBPUSD Forecast
The GBPUSD was indecisive yesterday. Price attempted to push higher earlier today hit 1.2272 but traded lower around 1.2230 at the time I wrote this comment. The bias is neutral in nearest term probably with a little bearish bias testing 1.2175 but as long as stay above 1.2000 the hammer formation bullish correction/reversal scenario should remain valid. Immediate resistance is seen around 1.2272. A clear break above that area could trigger further bullish pressure testing 1.2350 region.


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