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GBPUSD Daily Forecast: November 08

GBPUSD Daily Forecast: November 08
Thursday, November 8th, 2018 @ 4:38 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 continued its bullish momentum yesterday topped at 1.3174 but closed a little bit lower at 1.3124. The bias remains bullish in nearest term but price seems to respect the daily EMA 200 as you can see on my daily chart below. Immediate support is seen around 1.3075. A clear break below that area could lead price to neutral zone in nearest term testing 1.3000 region which need to be clearly broken to the downside to neutralize the bullish run triggered by a tweezer bottom formation printed on October 31, testing 1.2925 or lower.


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