GBPUSD  Forecast

The GBPUSD was indecisive yesterday made a Doji on daily chart. The bias remains bearish in nearest term testing 1.5390 as a part of the bearish scenario after the break below the range area as you can see on my h4 chart below. A clear break and daily close below 1.5390 could trigger further bearish pressure testing 1.5330 – 1.5270. Immediate resistance is seen around 1.5474 (current high). A clear break above that area could lead price to neutral zone in nearest term but any upside pullback now is normal and as long as stays below 1.5550 I still prefer a bearish intraday scenario with sell on rallies strategy.

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

.