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GBPUSD Daily Forecast: October 05
Friday, October 5, 2012 1:41
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GBPUSD Forecast
The GBPUSD had a bullish momentum yesterday but still found a good intraday resistance around 1.6200. The bias is bullish in nearest term especially if price able to make a clear break above 1.6200 testing 1.6300 but my medium term outlook remains sideways with potential range seen between 1.6300 – 1.6000. On the upside we need a clear break above 1.6300 to continue the bullish scenario testing 1.6400 or higher. Immediate support is seen around 1.6150. A clear break back below that area could lead price to neutral zone in nearest term testing 1.6100 – 1.6050 region. Fundamental focus today is on the US NFP number.
2012-10-05 01:34:04
Source: http://www.fxinstructor.com/blog/gbpusd-daily-forecast-october-05-4
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