The GBPUSD didn’t make significant movement yesterday, still trapped in range area of 1.4527 – 1.4240 as you can see on h4 chart below. The bias remains neutral in nearest term as price still consolidate but the main scenario remains to the downside especially if price able to break below 1.4240 targeting 1.4000 region. On the other hand break above 1.4527 could be a serious threat to the bearish scenario. The best strategy in nearest term is to short around 1.4527 or long around 1.4240 with tight stop loss.
©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.