GBPUSD  Forecast

The GBPUSD was indecisive on Friday. The bias is neutral in nearest term but as long as stays below 1.5550 I still prefer a bearish scenario at this phase with nearest bearish target seen around 1.5390. A clear break and daily close below that area could trigger further bearish pressure testing 1.5330 – 1.5270 region as a part of the bearish scenario after broke below the range area as you can see on my h4 chart below. On the upside, a clear break back above 1.5550 would postpone the bearish scenario testing 1.5630/50.

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