GBP/USD Forecast October 12, 2016, Technical Analysis

The GBP/USD pair fell significantly during the day on Tuesday, as we continue to reach towards the 1.20 level. The initial flash crash support should give way given enough time though, so any type of rally at this point in time will more than likely offer some type of exhaustive candle that we consider selling again. Once we do break down below the 1.20 level, the market should continue to go even lower than that. Ultimately, I think buying is almost all but impossible at this point in time and therefore I only look for selling opportunities. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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