GBPUSD  Forecast

The GBPUSD had a bearish momentum yesterday, broke below 1.5910 and hit 1.5866 earlier today in Asian session. This fact could lead price to further bearish continuation scenario testing 1.5800 – 1.5750. The bias is bearish in nearest term. Immediate resistance is seen around 1.5910. Another movement back above that area could lead us to neutral zone in nearest term but as long as price moves below 1.6000 I still prefer a bearish scenario at this phase.

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