GBPUSD Forecast

The GBPUSD continued its strong bearish momentum yesterday, broke below the daily EMA 200 after fell below the trend line support as you can see on my daily chart below. The bias remains bearish in nearest term testing 1.5650 – 1.5600 and the bearish reversal scenario is confirmed. Immediate resistance is seen around 1.5850. A clear break below that area could lead price to neutral zone in nearest term but as long as stays below 1.6000 my overall intraday bias remains to the downside.


©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.