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GBPUSD Daily Forecast: October 31

GBPUSD Daily Forecast: October 31
Thursday, October 31st, 2013 @ 5:36 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 was indecisive yesterday but overall still able to maintain its bearish correction bias. The bias remains bearish in nearest term testing 1.5950 key support area. A clear break and daily close below that area would confirm the double top bearish reversal scenario with 1.5750 as nearest target. On the upside, we need a clear break and consistent movement at least above 1.6100 – 1.6125 to give the bullish scenario another chance retesting 1.6259 key resistance area.

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