GBPUSD  Forecast

The GBPUSD had a significant bearish momentum yesterday, broke below the range area as you can see on my hourly chart below. The bias is bearish in nearest term testing 1.5422 – 1.5390 support area. A clear break and daily close below that area could trigger further bearish pressure testing 1.5330 – 1.5270. Immediate resistance is seen around 1.5520/50. A clear break back above that area would lead price to a neutral zone in nearest term as direction would become unclear.

©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.