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GBPUSD Daily Forecast: November 04

Thursday, November 3, 2016 22:03
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(Before It's News)

GBPUSD Forecast
The GBPUSD continued its bullish momentum yesterday broke above 1.2330, topped at 1.2494. The bias remain bullish in nearest term testing 1.2600 area. Immediate support is seen around 1.2430. A clear break below that area could lead price to neutral zone in nearest term testing 1.2370. On the upside, a clear break and daily/weekly close above 1.2600 would expose 1.2790 next week as a part of the hammer formation (daily chart) bullish correction/reversal scenario.

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  • It has really went nuts after the Court Decision and bulls have strongly came in, but at the same time there is elections ahead, so it will be interesting to see how everything works out, but we just need to be extremely wise and careful with how we go. I always keep myself in secure position and thanks to OctaFX broker with their Islamic Account, I am able to work it out all nicely and bring myself great comfort with doing things.

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