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GBPUSD Daily Forecast: November 02

Tuesday, November 1, 2016 18:01
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GBPUSD Forecast
The GBPUSD was indecisive yesterday. As you can see on my H1 chart below, price has been moving sideways after hit 1.2000 key support. The bias remains bullish in nearest term testing 1.2300/50 area. Immediate support is seen around 1.2220. A clear break below that area could lead price to neutral zone in nearest term testing 1.2150 area. Overall I remain bearish but as long as stay above 1.2000 key support, the hammer formation bullish correction/reversal scenario (daily chart) should remain valid.

gbpusdh1

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