GBPUSD Daily Forecast: March 12

By IBTimes Staff Reporter | March 11 2010 10:19 PM

GBPUSD Forecast:

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The GBPUSD had a bullish momentum yesterday, topped at 1.5065 and closed at 1.5058 after found support on major trendline support on Wednesday. This fact should keep the bullish correction scenario testing 1.5200/50 intact, but the main trend should remains bearish as long as price still move inside the major bearish channel. Immediate support at 1.5000 followed by 1.4950 area. Break below those area could trigger further bearish momentum testing 1.4873 even 1.4779 area.

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