GBPUSD Daily Analysis - October 4, 2016

Short Term Forex Analysis | by ForexCycle.com | Tuesday, 04 October 2016 01:38 UTC
GBPUSD broke below 1.2865 (Aug 15 low) support, and is now facing 1.2795 (Jul 6 low) support. A breakdown below this level will indicate that the long term downtrend from 1.5016 (Jun 24 high) has resumed, then the following downward movement could bring price to 1.2000 zone. Near term resistance is at the downward trend line on 4-hour chart, and the key resistance is at 1.3058, only break above this level could bring price back to 1.3300 zone.

gbpusd chart

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.


Subscribe to Newsletter

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