The GBPUSD had a strong bullish momentum yesterday and hit 1.5917 earlier today. The bias is bullish in nearest term as a bullish continuation scenario after the break above the trend line resistance and 1.5780 key resistance area as you can see on my daily chart below, targeting 1.6000. Immediate support is seen around 1.5880/70. A clear break below that area could lead price to neutral zone in nearest term but as long as stays above 1.5780 my overall intraday bias remains strongly to the upside.
©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.