GBP/USD Forecast November 1, 2016, Technical Analysis

The GBP/USD pair initially fell during the day on Monday, but turned around to form a little bit of a supportive candle. If we can rally above the top of this hammer, the market should then try to reach towards the 1.25 level next. A break above there should send this market to the 1.2850 level after that, where I see a massive amount of resistance. Any exhaustive candles should be reason enough to short this market, and I think that the 1.20 level will eventually get broken. Once we got below there, market should then reach to the 1.15 handle. - 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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