GBPUSD  Forecast

The GBPUSD continued its bullish intraday bias yesterday and seems comfortable staying above 1.6035/00, cancels my bearish outlook since the breakdown below the bullish channel. The bias is bullish in nearest term testing 1.6150 – 1.6200 area. On the downside, a clear break back below 1.6035/00 would lead price to a neutral zone as direction would become unclear.

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