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GBPUSD Daily Forecast: November 18

Thursday, November 17, 2016 20:56
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GBPUSD Forecast
The GBPUSD had another indecisive movement yesterday. The bias remains neutral in nearest term probably with a little bearish bias testing 1.2330 key support which remains a good place to buy with a tight stop loss. Immediate resistance is seen around 1.2450. A clear break above that area could trigger further bullish pressure testing 1.2500 or higher. On the downside, a clear break and daily/weekly close below 1.2330 would be a threat to the hammer formation bullish scenario (daily chart).

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  • It will be interesting to see where this week go for this pair because there is a lot happening around and that’s why we need to be wise with how we handle things. I never have to make too much effort to make profits because with OctaFX broker, it’s all easy using their daily market updates and monitoring system on their web site, it’s all pleasing and more importantly, it’s all highly profitable adventure for me in so many ways.

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