Sponsors

GBP/USD Forecast October 6, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 06 October 2016 06:43 UTC
The GBP/USD pair went back and forth during the course of the session on Wednesday, but ultimately formed a hammer. With this, I feel that the market is probably going to break out to the upside and reach towards the 1.2850 level above. The level should continue to bring sellers into the market, so this is going to be a short-term buying opportunity at best. On the other hand, if we break down below the bottom of the hammer, that could be a negative sign, perhaps reaching down towards the 1.25 level below.

Recommended Forex Trading Platforms

Forex Trading We know that the right opportunity can happen at anytime, anywhere. Saxo Capital Markets is committed to giving you a suite of platforms that will enable you to access your account and trade the markets whenever and wherever you want.

Sponsors

Subscribe to Newsletter

To receive alerts by email when Free Forex Analysis are updated. Enter your email address below.