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GBPUSD Daily Forecast: January 12

Wednesday, January 11, 2017 20:02
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(Before It's News)

GBPUSD Forecast
The GBPUSD attempted to push lower yesterday, bottomed at 1.2037 but whipsawed to the upside and closed higher at 1.2207. The bias is neutral in nearest term. As you can see on my daily chart below, we have a strong/major support at 1.2000 region so seeing some GBP demand near that level should not be a surprise. Immediate support is seen around 1.2125. A clear break below that area could trigger further bearish pressure testing 1.2080/37 area. Immediate resistance is seen around 1.2235. A clear break above that area could trigger further bullish pressure testing 1.2300 region.

gbpusddaily



Source: http://fxinstructor.com/blog/gbpusd-daily-forecast-january-12-6

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  • Ahmed

    We need to watch things closely for this, as a lot will be happening on 20th January once Trump takes over, so all eyes on that only. I like to keep everything straight forward and stick with the trend and follow news. I don’t have to worry too much with having broker like OctaFX in the corner. From providing first class service in terms of small spreads at 0.1 pips to high leverage up to 1.500 while there is also huge rebate scheme where I get 50% back on all trades, it’s just too good!

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