Last minute burning forecast 24.10.2017

Last minute burning forecast 24.10.2017

GBP - the way to the top is not hindered.

As clearly seen on the chart - for the last few days, the situation on the market is practically unchanged - there is essentially no movement, neither up nor down. Entirely calm.

It is clear that the market is waiting for important news - the news will be released from Wednesday to Friday. Wednesday - a report on durable goods in the US, Thursday - ECB decision on rates, Friday - US GDP report for the 3rd quarter. In addition, on Thursday, a news report which is unplanned - the declaration of independence by the Parliament of Catalonia (independence from Spain).

On the technical picture of GBPUSD - a long-term trend is maintained upward. The support line (clearly visible in the graph below) is not broken.

Therefore: we buy from 1.3110 and below to 1.3030.

A stop loss below 1.2980.

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The material has been provided by InstaForex Company - www.instaforex.com