GBPUSD Daily Forecast: July 09

By IBTimes Staff Reporter | July 08 2010 11:29 PM

GBPUSD Forecast:

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The GBPUSD was indecisive yesterday. On h4 chart below we can see that price has been moving in a range area of 1.5227 – 1.5080 this week. We are still in bullish correction phase but need a clear breakout from the range area to continue the bullish pressure testing 1.5400 – 1.5500. On the other hand, break below 1.5080 could trigger further bearish pressure testing 1.5000 key support area and could be a serious threat to the upside correction scenario.

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