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GBPUSD Daily Forecast: October 25

Monday, October 24, 2016 18:33
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GBPUSD Forecast
The GBPUSD had another indecisive movement 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 resistance is seen around 1.2250 followed by 1.2300. Immediate support is seen around 1.2200 followed by 1.2135.

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  • GBP/USD as we can see is pretty much into similar situation with no major takers and the pressure is just mounting on and on, it’s likely that we will see this way of things continue, but we just need to be very wise with how we go about doing everything and don’t go against the wave. I keep it simple and due to OctaFX broker, it’s ever easy with their swap free account option which is really nice and simple to help me further.

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