GBPUSD  Forecast

The GBPUSD was unable to continue its bearish momentum yesterday. The bias is neutral in nearest term but as long as stays below 1.5550 I still prefer a bearish intraday scenario at this phase with sell on rallies strategy. A clear break above 1.5550 could stop the current bearish outlook testing 1.5630/50 area. On the downside, we need a clear break at least below 1.5470 area to keep the bearish scenario strong still testing 1.5390 even lower as a part of the bearish scenario after broke below the range area.

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