GBPUSD Daily Forecast: February 03

By swibowo
03 February 2012 @ 02:26 am EDT

GBPUSD  Forecast

The GBPUSD bullish momentum was stopped yesterday but so far still able to move above 1.5780 support area (former resistance). In fact, 1.5780 is an ideal place for a long position with good risk – reward ratio, tight stop loss below 1.5780 targeting 1.5900 – 1.6000 region. A clear break and daily close below 1.5780 would postpone the bullish phase even could create a false breakout bearish reversal scenario especially if breaks below 1.5700.

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