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GBPUSD Daily Forecast: October 12

GBPUSD Daily Forecast: October 12
Thursday, October 12th, 2017 @ 1:09 am by Setyo Wibowo

About Setyo Wibowo:

Setyo Wibowo Living in East Java, Indonesia and holding International Relations degree, Setyo Wibowo began his forex trading career by joining Fortune Channel Investment in 2000 as a market analyst, while learning to trade forex independently on his own. Driven by his desire to share his trading experiences and ideas, Setyo joined the FX Instructor team in 2008. Setyo Wibowo is now living in Mojokerto, East Java, Indonesia.

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GBPUSD Forecast
The GBPUSD didn’t make significant movement yesterday but overall continues to trade higher and hit a new weekly high at 1.3247 earlier today in Asian session. The bias remains bullish in nearest term testing 1.3330 key resistance. A clear break and daily close above that area would end the bearish correction phase and reactivate my bullish mode retesting 1.3615 resistance area. Immediate support is seen around 1.3150. A clear break and daily close back below that area would keep the bearish correction phase alive and kicking testing the daily EMA 200 and the trend line support. Overall I remain bullish.

gbpusddaily

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