GBPUSD Forecast:

The GBPUSD had a significant bullish momentum yesterday. On h4 chart below we can see that price made a breakout above the range area indicating potential bullish scenario targeting 1.4715 region. The major bearish scenario surely in a serious threat, but we need a consistent move above 1.4527 to continue further bullish scenario. Another movement below 1.4527 should be seen as waning bullish momentum and activate my wait and see mode but vulnerable to further bearish pressure testing 1.4350 region in nearest term. Price has been very volatile lately so don’t rush jump into the market and make sure to execute  stop loss without any hesitation, both for long or short trades.

Related Posts:

  • GBPUSD Daily Forecast: May 27
  • Daily Forecast for Crosses: May 17
  • GBPUSD Daily Forecast: May 17
  • Daily Forecast for Crosses: March 19
  • GBPUSD Daily Forecast: May 26
  • ©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

    .