The GBPUSD slipped above 1.5966 on Friday after worse than expected US NFP, topped at 1.5997 but now struggling around 1.5966. The bias is neutral in nearest term but still within the context of strong bullish phase. We need a consistent move above 1.5966 to continue the bullish scenario targeting 1.6050 and 1.6150 area. Immediate support at 1.5900. Break below that area could trigger further downside pressure testing 1.5850/15 region.
©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.