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GBPUSD Daily Forecast: May 02
Wednesday, May 1, 2013 23:09
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GBPUSD Forecast
The GBPUSD attempted to push higher yesterday topped at 1.5604 but closed lower and hit 1.5541 earlier today. As you can see on my hourly chart below price is still moving inside a bullish channel suggests a bullish phase but the bias is neutral in nearest term probably with a little bearish bias testing 1.5525 – 1.5480 support area. A clear break and daily close below that area would interrupt the bullish correction phase. My major bearish scenario remains valid with 1.5600 (daily EMA 200) as key resistance. A clear break above that area would interrupt the major bearish scenario.
2013-05-01 23:01:18
Source: http://www.fxinstructor.com/blog/gbpusd-daily-forecast-may-02-3
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