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GBPUSD Daily Forecast: November 17

Wednesday, November 16, 2016 19:47
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GBPUSD Forecast
The GBPUSD had another indecisive movement yesterday. The bias remains neutral in nearest term. Immediate support is seen around 1.2380 but key support remains at 1.2330 which is a good place to buy with a tight stop loss. Immediate resistance is seen around 1.2480. A clear break above that area could trigger further bullish pressure testing 1.2550 region. As long as stay above 1.2330 I still prefer a bullish scenario at this phase and any downside pullback should be seen as a good opportunity to buy.

gbpusdh4

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