GBPUSD – GBPJPY Forecast 17 October 2019



GBPUSD we wrote: higher to the next target of 1.2780/90 & above 1.2800 targets minor resistance at 1.2830/40. On further gains look for 1.2860/65…

These targets were hit & we topped 10 pips above.

GBPJPY bounced 17 pips above strong support at 137.30/20 & shot higher through 138.15, 139.30 & 139.60/70 to top just 19 pips from resistance at 140.25/35.

Daily Forecast – 17 October 2019
GBPUSD higher to the next target of 1.2860/65 & further gains target 1.2900/10, perhaps as far as 1.2965/75. A break above 1.2990 targets 1.3030/40 & strong resistance at 1.3080/90.
Minor support at 1.2785/75 but below 1.2745 risks a slide to 1.2710/00 then strong support at 1.2665/50. Further losses target 1.2605/95 then strong support at 1.2530/20.

GBPJPY holding just below resistance at 140.25/35. A break above 140.65 targets 141.15/25 & minor resistance at 141.60/70. On a break higher look for 142.15/25.
Minor support at 139.30/20 but below 138.80 risks a slide to 138.40/30 & better support at 137.85/75. Longs need stops below 137.45. We should meet strong support at 136.90/80. Longs need stops below 136.40.

Monthly Forex GBP


Jason Sen began his trading career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successful...continued

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