The GBPUSD failed to continue its bullish bias yesterday, bottomed at 1.5900 and closed at 1.5910. While my short term bias turned bearish now, from another technical perspective as you can see on my h4 chart below, actually price is still trapped in range area of 1.6165 – 1.5875/50. The bias is bearish in nearest term especially if price able to make another strong break below 1.5875/50 targeting 1.5700. Immediate resistance is seen around 1.5970 – 1.6000. A clear break above that area would lead price to neutral zone in nearest term and keep price in a sideways outlook.
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