GBPUSD  Forecast

The GBPUSD continued its bullish momentum yesterday after failed to make a clear break below 1.5900, topped at 1.6040 and now still moving above 1.6000. The bias remains bullish in nearest term testing 1.6100 – 1.6150. Immediate support is seen around 1.5969 (Tuesday’s high). A clear break below that area would lead price to neutral zone in nearest term testing 1.5900 and could create another false breakout scenario.

©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.