GBP/USD Forecast October 14, 2016, Technical Analysis

The GBP/USD pair initially fell during the day on Thursday but turned right back around and form a bit of a hammer. The hammer of course is a bullish sign, but at this point in time there is more than enough resistance above to continue pushing this market lower. With this, I think that the sellers will eventually come back into play, taking advantage of value in the US dollar time we rally. I believe that the 1.20 level below will be massively supportive, and with that being the case we will probably bounce from that area once we reach it again. - 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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