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GBPUSD Daily Forecast: October 21

Thursday, October 20, 2016 15:25
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GBPUSD Forecast
The GBPUSD had another indecisive movement yesterday. The bias is neutral in nearest term. Immediate support is seen around 1.2200 followed by 1.2135 but key support remains at 1.2000. Immediate resistance is seen around 1.2280. A clear break above that area could trigger further bullish pressure testing 1.2330/50 region. My major technical outlook remains bearish but as long as stay above 1.2000 the hammer formation bullish correction/reversal scenario should remain valid.


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  • Ahmed

    GBP/USD is a sort of pair which we need to be very careful on because of the situation we can see at present, so that’s why we need to be extra careful with how we go about doing things. I am operating on with Islamic Account through OctaFX broker, it’s so nice and helps me big time especially with no worries about overnight charges while they also have amazingly accurate daily market updates, it’s super cool to use and is absolutely free.

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