GBPUSD Forecast:

The GBPUSD also had a significant bullish momentum yesterday. Not only my short and medium term technical outlook are in bullish mode, but I think now is also the time to think about the long term outlook where the bullish power seems ready to test the trendline resistance (white). Nearest bullish target around 1.6000/50 while weekly bullish target is seen around 1.6150. Immediate support at 1.5815. Break below that area could lead us into neutral zone in nearest term but overall we are still in strong bullish phase.

©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.