GBPUSD  Forecast

The GBPUSD didn’t make a clear technical move yesterday. On h1 chart below we can see that price still struggling around the minor trendline support area without clear direction. The bias is neutral in nearest term. We need a consistent move below the minor trendline support to continue the bearish pressure towards 1.4600 – 1.4550 before testing the major trendline support. On the upside, a consistent move above the minor trendline resistance (red) could trigger further bullish pressure towards  1.4935 before testing 1.5000/50 region.

©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.