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GBPUSD Daily Forecast: November 11

Thursday, November 10, 2016 20:57
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(Before It's News)

GBPUSD Forecast
The GBPUSD had a bullish momentum yesterday topped at 1.2584. The bias is bullish in nearest term especially if price able to make a clear break above 1.2600 testing 1.2650 – 1.2700 region as a part of the hammer formation bullish correction/reversal scenario (daily chart). Immediate support is seen around 1.2500. A clear break below that area could lead price to neutral zone in nearest term testing 1.2450 area but key support is seen at 1.2330 which remains a good place to buy with a tight stop loss.

gbpusdh1

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  • GBP/USD is finally pulling the weight but you can always think that there is bearish trend about to explode and that’s why one will be so hesitant to buy it. I prefer to keep it mostly for scalping and due to OctaFX broker, I am able to do it fairly easily having lowest possible spread from 0.1 pips to high leverage up to 1.500 then there is also lovely rebate program where I get 50% back on all trades, so all this means a lot!

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