GBPUSD Forecast
The GBPUSD was indecisive yesterday. Price attempted to push higher, but whipsawed to the downside and closed lower at 1.5391 after failed to break above the triple top formation around 1.5505 as you can see on my H4 chart below. The bias is bearish in nearest term especially if price able to make a clear break below 1.5350 testing 1.5300 or even could create a potential bearish scenario to test the lower line of the falling wedge formation. Immediate resistance is seen around 1.5425. A clear break above that area could lead price to neutral zone in nearest term retesting 1.5505 key resistance which need to be clearly broken to the upside to activate the falling wedge bullish scenario.


FX Instructor Forex Blog – For Traders, By Traders

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.