GBPUSD Daily Forecast: February 09

By IBTimes Staff Reporter | February 08 2010 9:28 PM

GBPUSD Forecast:

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The GBPUSD also made indecisive movement yesterday indicating consolidation after significant bearish momentum. No significant movement so far. The bias is neutral in nearest term but still in the bearish scenario. Immediate resistance remains at 1.5650 – 1.5707 area. Break above that area should trigger further bullish correction testing 1.5800. Initial support at 1.5550 – 1.5500 area. Break below that area should trigger further bearish scenario towards 1.5250 area this week.

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