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GBPUSD Daily Forecast: May 10
Thursday, May 9, 2013 23:12
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GBPUSD Forecast
The GBPUSD had a bearish momentum yesterday broke back below 1.5480, bottomed at 1.5425. The bias is bearish in nearest term especially if price able to break below 1.5425 testing 1.5370/35. Immediate resistance is seen around 1.5480 – 1.5500. A clear break back above that area could lead price to neutral zone in nearest term testing 1.5550. A clear break and daily/weekly close below 1.5370 – 1.5400 area could end the bullish phase and turn my major technical outlook back to a bearish mode.
Source: http://www.fxinstructor.com/blog/gbpusd-daily-forecast-may-10-4
