GBPUSD  Forecast

The GBPUSD continued its bearish momentum on Friday, closed below 1.5910 as you can see on my daily chart below. This fact gives further confirmation to the bearish continuation scenario testing 1.5779 region. We have a gap down earlier today in Asian session. Upside pullback filling the gap might occur, but as long as price stays below 1.5910 my intraday bearish bias remains strong. A clear break and daily close back above 1.5910 could lead price to a neutral zone in nearest term but my overall technical bias remains to the downside after the violation to the bullish channel.

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

.