GBPUSD Daily Forecast: November 24

By swibowo
23 November 2009 @ 09:23 pm EDT

GBPUSD Forecast:

My CCI study gave us a valid signal about upside correction yesterday. Price topped at 1.6647 but failed to stay above 1.6600 area so far, keep my bearish scenario intact with technical bearish target remains at 1.6400 and 1.6250 area. The bias is neutral in nearest term but I still prefer a bearish scenario. For me only movement above 1.6692 could be a serious threat to my bearish outlook. Immediate support at 1.6550. Break below that area should trigger further bearish momentum at least towards 1.6475 area. Initial resistance at 1.6647 (yesterday’s high). Break above that area should trigger further bullish momentum testing 1.6692 and should be seen as potential threat to my bearish outlook. I will be watching any reaction around those levels before make any decision today.

For more forex information, go to FxInstructor.com

E-Newsletters

We value your privacy. Your email address will not be shared.

Home
World
US
Economy
Companies
Tech
Science
Global Markets
Education
Real Estate
Forex
Commodities
Gold & Silver Matters
More Sections
Fashion
Auto
Travel
Health
Law
Entertainment
Sports
Luxury
Art
Books
Tech & Trend
Tools & Features
Topics
Blogs
Market Data
Stock Watch List
Investment Calculator
Financial Glossary
Broker Center
World Business Headlines
Updates
RSS Feeds
IBTimes on Twitter
IBTimes on Facebook
E-Newsletters
Services
Forex Newsfeed
Research
Press Release
About IBTimes
News Licensing
Media Kit
Advertise with Us
About IBTimes
Contact Us
Terms of Service
Privacy Policy