GBPUSD  Forecast
The GBPUSD continued its bullish intraday bias yesterday hit 1.5687 but corrected a little bit lower earlier today in Asian session hit 1.5611. The bias is neutral in nearest term but as long as price stays above 1.5490 my overall intraday bias remains to the upside after the false breakdown below 1.5330 last week, still testing 1.5750 region. However from a broader outlook we need a clear break above 1.5750 to continue the bullish scenario as from h4 chart perspective price still trapped in a range area of 1.5750 – 1.5330. Immediate support is seen around 1.5540 (hourly EMA 200). A clear break back below that area could trigger further bearish pressure testing 1.5490.

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

.