GBPUSD  Forecast

The GBPUSD attempted to push higher yesterday, topped at 1.5598 but traded lower around 1.5525 at the time I wrote this comment.  The bias is neutral in nearest term. The major bearish scenario remains intact but we need a movement below 1.5480 to continue the downside pressure testing 1.5370 area. On the upside, another movement above 1.5580 could trigger further upside pressure testing 1.5700 which could be a serious threat to the bearish outlook.

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