GBPUSD Daily Forecast: May 13

By @ibtimes on

GBPUSD  Forecast

The GBPUSD had a bearish momentum yesterday and now traded below 1.6280 support area, suggests potential further bearish outlook testing 1.6164 in nearest term. A clear break below that area could trigger further bearish continuation testing 1.6000 support area. On the upside, another move back above 1.6280 would lead us to neutral zone in nearest term testing 1.6320/70 resistance area but overall I still prefer a bearish scenario at this phase.

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

.

Join the Discussion