GBPUSD Daily Forecast: January 22

By IBTimes Staff Reporter | January 21 2010 10:11 PM

GBPUSD Forecast:

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The GBPUSD had a bearish momentum yesterday, bottomed at 1.6125 but closed higher at 1.6193. I believe that the false breakout from the trendline resistance as you can see on daily chart below should keep the Sterling under pressure targeting 1.6040 area. Immediate resistance at 1.6250 and the trendline resistance area. Break above that area should lead us into no trading zone as direction would become unclear.

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