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GBPUSD Daily Forecast: November 07

Sunday, November 6, 2016 20:45
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GBPUSD Forecast
The GBPUSD had a bullish momentum last week closed at 1.2518 but gapped lower earlier today opened at 1.2450. The bias remains bullish in nearest term testing 1.2600. Immediate support is seen around 1.2450. A clear break back below that area could lead price to neutral zone in nearest term but as long as stay above 1.2330 price is still in a valid bullish phase as a part of the hammer formation bullish scenario (daily chart). On the upside, a clear break and daily close above 1.2600 could trigger further bullish pressure testing 1.2790 this week.



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