Forex trading signals and analysis for GBPUSD – 5 Oct 2014

Forex trading signals and analysis for GBPUSD – 5 Oct 2014

Analysis:

GBPUSD continued to fall down almost 300 pips last week, one of the biggest loss weeks in the last 3 months. Good US NFP data on last Friday pushed price to break the key support at 1.60600 easily.

We expect the down trend will continue but limited with next key support is 1.58500 zone.

GBPUSDH4 - 5 Oct 2014

Forex Trading Signal:

The best way is to trade in line with the existing trend, we will wait for signals to short GBPUSD around 1.6030 – 1.6060 today.

Resistant zone:

+1.6160

+1.6060

Support zone:

+1.58500

ForexSignals247

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