The GBPUSD had a bearish momentum yesterday, bottomed at 1.5771 and hit 1.5762 earlier today. The bias is bearish in nearest term testing 1.5700 but as long as stays above 1.5650 the bullish scenario since the break above the trend line resistance should remain intact and overall I still prefer to buy on dips, still testing 1.5900 – 1.6000. Immediate resistance is seen around 1.5800. A clear break above that area could lead price to neutral zone but keep the bullish phase remains strong. Price has been moving sideways in the last three weeks with no clear momentum.
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