GBPUSD  Forecast

The GBPUSD had another indecisive movement yesterday. There are no changes in my technical outlook. However, nearest term outlook shows more bearish bias challenging 1.5650 key support area as price keeps making lower highs since fell from 1.5904. The bullish bias since the breakout above the trend line resistance should remain intact but a clear break and daily close below 1.5650 would stop the bullish outlook and turn my intraday bias to a bearish mode testing 1.5550 – 1.5500 region. On the upside, we need a clear break at least above 1.5750 to keep the bullish phase remains strong.

©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.