The GBPUSD continued its bullish bias yesterday, topped at 1.5933 and closed at 1.5901. This fact cancels the double top scenario and gives a chance for further bullish scenario testing 1.6000 area. The bias is bullish in nearest term. Note that 4h CCI is moving lower suggests potential downside pullback. Immediate support is seen around 1.5890. A clear break below that area could lead price to neutral zone in nearest term testing 1.5850/20 but as long as stays above 1.5780 I still prefer to buy on dips.
©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.
Most Popular Slideshows
- 'Game of Thrones'-like Film, 'The Queen of the Tearling,' Casts Emma Watson as Lead Star and Exec Producer [PHOTOS]
- Kim Kardashian Baby Girl: Suggested Ways Kanye West’s New Born Can Earn Money to Keep Up with the Kardashians [PHOTOS]
- Asus Transformer Infinity Pad, Sony Vaio Duo, Toshiba Satellite, A Look at Intel's Haswell 4th Generation Ultrabooks and Notebooks [Photos]
- 'Fifty Shades of Grey' Movie Casting: Selena Gomez Open to Nude Role, Ready for Anastasia Steele? [PHOTOS]