GBPUSD  Forecast

The GBPUSD attempted to push higher yesterday, topped at 1.5565 but whipsawed to the downside, closed at 1.5474 and hit 1.5452 earlier today in Asian session. The bias remains bearish in nearest term testing 1.5420 and 1.5330. Immediate resistance is seen around 1.5500/35 area. A clear break above that area could lead price to neutral zone in nearest term testing 1.5600 area but as long as stays below 1.5700 my overall technical bias remains to the downside as a apart of the bearish scenario since breakdown below the range area and 1.5875 key support as you can see on my h4 chart below.

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

.