GBPUSD Forecast:

The GBPUSD slipped above the trendline resistance yesterday, topped at 1.5052 but whipsawed to the downside, closed lower at 1.4844 and now back below the trendline in a  high volatile and indecisive market but this fact should keep the major bearish outlook intact. Immediate support at 1.4770. Break below that area could trigger further bearish momentum testing 1.4700 even 1.4550 – 1.4500 region. Initial resistance at 1.4920/30 region. Another upside pullback above that area could trigger bullish momentum testing 1.5000 – 1.5050 area.

Related Posts:

  • GBPUSD Daily Forecast: March 22
  • GBPUSD Daily Forecast: May 10
  • GBPUSD Daily Forecast: February 03
  • GBPUSD Daily Forecast: March 23
  • GBPUSD Daily Forecast: March 25
  • ©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

    .