Sunday, October 13, 2013

GBP/USD Daily Outlook

With 1.6123 minor resistance intact, decline from 1.6250 short term top is expected to extend lower to 1.5716 support. Break there will confirm that whole rebound from 1.4813 has completed. On the upside, break of 1.6123 minor resistance is needed to indicate completion of the fall. Otherwise, near term outlook will now stay cautiously bearish.



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