The GBPUSD continued its bullish correction yesterday after bounced from the triple bottom formation as you can see on my h4 chart below. The bias is bullish in nearest term testing 1.5630. A clear break and daily close above that area could trigger further bullish pullback testing 1.5750 area. My major bearish technical outlook remains intact and I still prefer a bearish scenario at this phase but would need a clear break at least back below 1.5490 to keep the major bearish scenario strong retesting triple bottom formation around 1.5330.
©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.