GBPUSD Daily Forecast: September 10

By swibowo
10 September 2010 @ 12:01 am EDT

GBPUSD Forecast:

The GBPUSD also had a significant technical move earlier today in Asian session, slipped below the bullish channel as you can see on my h4 chart below. This fact could trigger further bearish pressure testing 1.5340 and 1.5296 as the bullish correction could end here, especially if break below 1.5370. Another movement back inside the bullish channel could lead us into neutral zone as direction would become unclear, produce a false breakdown scenario and keep the bullish correction intact re-testing 1.5475 and 1.5531. Fundamental focus today is on the UK PPI Input. A disappointing result could push the pair lower. On the other hand, a good result could give support to the Sterling but overall the major scenario remains bearish.

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