GBPUSD Forecast:

The GBPUSD had a significant bullish momentum yesterday, topped at 1.5340 and closed at 1.5316. As you can see on my h4 chart below, I have made adjustment to the range area. The lower line is no longer at 1.5200, but 1.5128. Overall in medium term of view, we are still in consolidation phase and need a break above 1.5520 to continue the major bullish scenario. Immediate resistance at 1.5390. Break above that area should trigger further bullish momentum testing 1.5465 region before testing 1.5520. Initial support at 1.5290 followed by 1.5213.

Related Posts:

  • GBPUSD Daily Forecast: March 18
  • GBPUSD Daily Forecast: April 27
  • GBPUSD Daily Forecast: April 29
  • GBPUSD Daily Forecast: April 28
  • GBPUSD Daily Forecast: February 26
  • ©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

    .