GBP/USD Forecast October 31, 2016, Technical Analysis

The GBP/USD pair fell during the course of the day on Friday but turned right back around to form a bit of a hammer. The hammer of course is a very bullish sign but I think that any bounce at this point in time it’s only a matter before the sellers return as we are very much in a downtrend. An exhaustive candle above should be reason enough to start selling, and I do think that eventually we will try to break down below the 1.20 level. However, it will take several opportunities going forward. - 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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