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GBPUSD Daily Forecast: October 22

GBPUSD Forecast:
The GBPUSD violated my bearish channel yesterday, indicating nothing but the end of bearish scenario and the beginning of a bullish scenario with technical target at 1.6740 and 1.7042 area. CCI in overbought area and heading down on h4 chart so watch out for potential downside correction testing 1.6570/20 support area. Short position is not recommended.

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GBPUSD Daily Forecast: October 22

This entry was posted on Wednesday, October 21st, 2009 at 6:52 pm and is filed under Forex. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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