GBPUSD Daily Forecast: January 06
By swibowo | January 6, 2014 6:21 PM EST
The GBPUSD attempted to push higher last week topped at 1.6603 but whipsawed to the downside, closed at 1.6416 and hit 1.6348 earlier today. The bias is bearish in nearest term testing 1.6300 – 1.6259 key support area. Immediate resistance is seen around 1.6415. A clear break above that area could lead price to neutral zone in nearest term testing 1.6450 or higher. The major bullish outlook should remain valid but a clear break below 1.6259 could be a threat to the bullish outlook and could be an early signal of a bearish reversal scenario.