GBP/USD Daily Forecast

Wednesday, July 21, 2010

The GBPUSD attempted to push lower yesterday, bottomed at 1.5153 but closed higher at 1.5260. This fact keeps the bullish outlook intact testing 1.5350 in nearest term but need a clear break above 1.5470 to confirm bullish continuation scenario in longer term. On the downside, the lower line of the bullish channel and 1.5150 area is the key support area. A break below that area could be a serious threat to the bullish outlook.