The GBPUSD had another disappointing bullish run yesterday. Price attempted to push higher topped at 1.5884 but whipsawed to the downside and now retesting 1.5780 support area. The bias is neutral in nearest term. I still prefer a bullish scenario at this phase but a clear break and daily close below 1.5780 would stop the bullish intraday outlook and activate my wait and see mode, testing 1.5700 – 1.5650 support area. Immediate resistance is seen around 1.5830. A clear break above that area would give the bullish scenario another chance testing 1.5900 – 1.6000 region.
©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.