GBPUSD Daily Forecast: March 22

By swibowo
21 March 2010 @ 11:40 pm EDT

GBPUSD Forecast:

The GBPUSD had a significant bearish momentum on Friday after failed to consistently move above the bearish channel, indicating false break out which could trigger significant bearish scenario. On daily chart below we can see that price is now ready to test the major trendline support which is the key support area at this phase. Break below the trendline should trigger further bearish momentum targeting  1.4500 area this week. Immediate resistance at 1.5050. Break above that area could trigger further bullish momentum 1.5125/50 region.

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