The GBPUSD had a bearish momentum on Friday after US NFP data, bottomed at 1.5180 and closed at 1.5202 but we have a gap as price opened higher at 1.5265 today in Asian market. Gaps are often filled so price might attempt to go near 1.5202 area. Break below that area could trigger further bearish momentum as the Dollar gain on NFP may continue testing 1.5135 area. The bias is neutral in nearest term. Initial resistance at 1.5380 which is remains a technical bullish target at this phase as bullish scenario remains intact.
©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.