GBPUSD  Forecast

The GBPUSD had a strong bearish momentum yesterday, closed below 1.5400 and hit 1.5308. The bias is bearish in nearest term testing 1.5270 which is a major support level. A clear break and daily close below that area could trigger further bearish scenario testing 1.5000 psychological level. Immediate resistance is seen around 1.5400. A clear break back above that area could lead price to neutral zone as direction would become unclear and reopen the door for another upside attempt retesting 1.5500 resistance area.

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