The GBPUSD had a bearish momentum yesterday and slipped below 1.6150 earlier today. This fact is a threat to the bullish outlook especially if price able to make a clear break and consistent movement below 1.6150 and the trend line, testing 1.6000 region. Immediate resistance is seen around 1.6210. A failure to make a clear break below 1.6150 and movement back above 1.6210 would keep price in sideways condition but also keep the bullish scenario remains strong testing 1.6300 – 1.6400 area.
©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.
Most Popular Slideshows
- Mars Curiosity Rover Photos: UFO Hunter Spots Strange 'Ruins,' 'Missile' [PHOTOS, VIDEO]
- Miranda Kerr Exposes Breasts to Crew, Wardrobe Malfunction 'Deliberate Accident?' [PHOTOS]
- How Brad Pitt Avoids Sex Even in Film Scenes After Finding Love in Angelina Jolie [PHOTOS]
- Selena Gomez Spotted with Jaden Smith [PHOTOS]