The GBPUSD attempted to push lower yesterday, bottomed at 1.5718 but whipsawed to the upside and closed higher at 1.5858. This fact is a serious threat to the major bearish outlook especially if price able to make a clear break above 1.5900 targeting 1.6000 which would give further validation to the bullish reversal scenario. Immediate support at 1.5800. Break below that area could lead us to neutral zone in nearest term testing 1.5750/25 support area.
©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.