GBPUSD broke first support at 1.6025/20 & hit our next target of 1.5995/90 to bottom exactly here. This is key for direction today. A break lower
GBP/USD Daily Forecast - 24 October 2014GBPUSD broke first support at 1.6025/20 & hit our next target of 1.5995/90 to bottom exactly here. This is key for direction today. A break lower targets 1.5940/35. Any further losses sees a retest of October lows at 1.5875/70.
Holding above 1.6023/28 is less negative with the pair oversold short term & could allow a recovery to 1.6065/70. Any shorts here need stops above 1.6085 for a move towards strong resistance at 1.6110/20. Try shorts with stops above 1.6135. An unexpected break higher then targets 1.6175/85 for an excellent selling opportunity with stops above 1.6200.
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