GBP/USD Forecast October 26, 2016, Technical Analysis

The GBP/USD pair fell during the day on Tuesday, but bounced enough to form a bit of a hammer. It makes a lot of sense that we would see it here, because the 1.20 level is still psychologically important, and has offered quite a bit of support in the past. With this in mind, it’s likely that we will get a bounce but I am simply looking at this bounce as an opportunity to sell from higher levels as soon as we see signs of exhaustion. With this, I am patiently waiting to start shorting again.

Eracash.com - 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.

All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. Eracash.com bears no responsibility for any trading losses you might incur as a result of using any data within the Eracash.com