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GBPUSD Daily Forecast: December 09
Monday, January 4, 2016 10:06
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GBPUSD Forecast
The GBPUSD continued its bearish momentum yesterday bottomed at 1.4956 but closed higher at 1.5006. The bias remains bearish in nearest term testing 1.4900. Immediate resistance is seen around 1.5025. A clear break above that area could lead price to neutral zone in nearest term testing 1.5100 area but key resistance remains at the trend line resistance as you can see on my H1 chart below which remains a good place to sell with a tight stop loss. As long as stays below the trend line resistance I prefer a bearish scenario at this phase.
Source: http://fxinstructor.com/blog/gbpusd-daily-forecast-december-09-6
GBP/USD has been really bearish from last few months, it is likely to continue, I am avoiding trading on this pair at the moment, as I feel it will be too risky for comfort. I trade with OctaFX broker and with them, I get great support through the 50% bonus on deposit offer, it is very useful and helps me work smoothly given I am not required to risk much with such bonus available, it has really helped my performance big time.