Friday, October 10, 2014

GBPUSD Medium Term Forecast - 10th October, 2014

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

Outlook Trade opportunity

Short preferred till next support at 1.585

Risk Level __


Tips -

Always take note of any economical news event on our provided calender below



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