GBPUSD Daily Forecast: October 08

GBPUSD Forecast

The GBPUSD was indecisive last week, formed a Doji on weekly chart but fell below 1.6150 again after failed to make a clear break above 1.6200. The bias is bearish in nearest term testing 1.6050 – 1.6000. My medium term outlook remains neutral with potential range seen between 1.6300 – 1.6000. Immediate resistance is seen around 1.6150. A clear break back above that area could lead price to neutral zone in nearest term retesting 1.6200.