GBPUSD  Forecast

The GBPUSD had a limited bullish momentum on Friday. The bias is neutral in nearest term but still within the context of a strong bullish reversal after the violation to the bearish channel especially if price able to make another strong breakout above 1.5900 targeting 1.6000. Immediate support at 1.5780. Clear break below that area could lead us to neutral zone in nearest term testing 1.5650 but I still prefer a bullish scenario at this phase.

©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.