GBPUSD  Forecast

The GBPUSD had another indecisive movement on Friday. Price slipped below 1.5270 major support, bottomed at 1.5234 but unable to stay consistently below 1.5270 so far. The bias remains neutral in nearest term but looks like the overall pressure is to the downside. A clear break and daily close below 1.5270 could trigger further bearish scenario testing 1.5000 psychological level this week. Immediate resistance is seen around 1.5330/50 followed by 1.5400. EMA 200 indicator still moving above price on hourly to monthly chart suggests a bearish view.

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

.