GBPUSD  Forecast

The GBPUSD made a significant bullish movement yesterday with a daily close above 1.6300 as you can see on my daily chart below. This fact is an early validation to the bullish continuation scenario targeting 1.6500 even would open the door for further upside pressure testing 1.6700. On the downside, immediate support at 1.6274. A clear break below that area would lead us to neutral zone in nearest term testing 1.6200 but overall the technical bias remains strongly to the upside.

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

.