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GBPUSD Daily Forecast: May 09
Wednesday, May 8, 2013 21:51
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GBPUSD Forecast
The GBPUSD failed to continue its bearish momentum yesterday after the false breakdown below 1.5480 topped at 1.5590 but traded lower earlier today hit 1.5534. The bias is neutral in nearest term. Immediate support is seen around 1.5530. A clear break back below that area could trigger further bearish pressure testing 1.5500 – 1.5480. On the upside, key resistance remains around 1.5600. A clear break above that area could trigger further bullish pressure testing 1.5650 or higher and keep the bullish phase remains strong.
Source: http://www.fxinstructor.com/blog/gbpusd-daily-forecast-may-09-3
