GBPUSD  Forecast

The GBPUSD attempted to push lower yesterday, bottomed at 1.5653 but further bearish pressure was rejected, closed higher at 1.5704 and hit 1.5741 earlier today. This fact keeps the bullish intraday outlook remains strong still testing 1.5780. I remain bullish on this pair but note that we need a clear break and daily close above 1.5780 to continue the bullish scenario testing 1.6000. Immediate support is seen around 1.5670. A clear break below that area could lead price to neutral zone in nearest term but as long as stays above 1.5600, I still prefer a bullish intraday scenario at this phase.

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

.