GBPUSD hit our buying opportunity at 1.6040/35 & bottomed exactly here beating 1.6060 for a recovery to 1.6080/85 then 1.6095/1.6100. Key for today is
GBP/USD Daily Forecast - 08 October 2014GBPUSD hit our buying opportunity at 1.6040/35 & bottomed exactly here beating 1.6060 for a recovery to 1.6080/85 then 1.6095/1.6100. Key for today is 1.6080/75. Below is more negative & tests support at 1.6040/35. Try longs with stops below 1.6020. A break lower should trigger a move towards support at 1.6000. Any longs here need stops below 1.5985 for a retest of this week’s low at 1.5945/40.
Immediate resistance at 1.6115/25. Be ready to go with a break higher to target 1.6150/55 for a selling opportunity with stops above 1.6175.
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