GBPUSD Medium Term Forecast - 10th October, 2014
Targets @ 1.58 - 1.57 approx...?
Weekly Chart
- Will be interested to see how the week ends and where the candle will close (below or above the trendline / triangle we had on the weekly)
Daily Chart
- Yesterday's daily candle is a good signal for continuation
- Next support comes in at 1.585 where we might get a bounce
- If prices break this level, then the next support will be a strong one where it meets the mid point of 2013 as well as two strong fib levels of 161.8 fib, and 61.8 fib
- note the black lines are support and resistance lines identified using a line chart
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