GBPUSD  Forecast

The GBPUSD was volatile but indecisive yesterday made a Doji on daily chart. The bias is neutral in nearest term but my overall technical bias remains to the downside and I still prefer to short on rallies testing 1.5500 area. Immediate resistance is seen around 1.5650 – 1.5700. A clear break above that area could trigger further upside pressure but only a clear break and daily close back above 1.5875 would stop the current bearish outlook.

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