The GBPUSD had a bullish momentum yesterday, topped at 1.5746 and closed at 1.5702. The bias is bullish in nearest term especially if price able to make another break above 1.5750 testing 1.5800 – 1.5850 area. On the downside we need a clear break and daily close at least back below 1.5650 to continue the bearish scenario since the failure to break above 1.6000 testing 1.5550 – 1.5500 support area.
©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.