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GBPUSD Daily Forecast: May 07
Monday, May 6, 2013 21:42
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GBPUSD Forecast
The GBPUSD had a bearish momentum yesterday after failed (again) to break above 1.5600 key resistance area. As you can see on my hourly chart below price has been moving sideways between 1.5600 – 1.5480 and need a clear break from the range area to see clearer direction. The bias is neutral in nearest term. Immediate resistance is seen around 1.5550. A clear break above that area could trigger further bullish pressure retesting 1.5600.
Source: http://www.fxinstructor.com/blog/gbpusd-daily-forecast-may-07-3
