GBPUSD Daily Forecast: July 16

By IBTimes Staff Reporter | July 15 2010 11:52 PM

GBPUSD Forecast

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The GBPUSD continued its bullish momentum yesterday, topped at 1.5470 and closed at 1.5459. On h4 chart below we can see price break above the trendline resistance indicating potential bullishness targeting 1.5520/70 in nearest term before testing 1.5700 and 1.5800 region. Immediate support at 1.5380/50. Break below that area could trigger further bearish pressure testing 1.5270/50 region but overall we are still in strong bullish phase.

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