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GBPUSD Daily Forecast: May 08
Wednesday, May 8, 2013 0:12
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GBPUSD Forecast
The GBPUSD continued its bearish momentum yesterday slipped below 1.5480 and now struggling around that area. The bias is bearish in nearest term testing 1.5425 area. Immediate resistance is seen around 1.5500. A clear break above that area could lead price to neutral zone in nearest term testing 1.5550 (false breakout) but key resistance remains around 1.5600 which needs to be clearly broken to the upside to continue the bullish phase.
Source: http://www.fxinstructor.com/blog/gbpusd-daily-forecast-may-08-2
