GBPUSD  Forecast

The GBPUSD continued its bullish momentum yesterday, topped at 1.5491 and closed at 1.5481. The bias remains bullish in nearest term since the rejection to make a clear break below major support 1.5270. A clear break above 1.5500 could trigger further bullish momentum testing 1.5600 region. Immediate support is seen around 1.5450 – 1.5400 area. A clear break below that area could lead price to neutral zone in nearest term but only a clear break and daily close below 1.5270 would continue the bearish scenario and reactivate my bearish mode.

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

.