GBP/USD Daily Forecast

Monday, July 26, 2010

The GBPUSD continue its bullish momentum on Friday, topped at 1.5448 and closed at 1.5420. The bias is bullish in nearest term especially if price able to move consistently above 1.5470 area targeting 1.5573 (February 23 high) before testing 1.5685 region (February 18 high). Immediate support at 1.5400 - 1.5380. Break below that area could lead us into no trading zone in nearest term testing 1.5280/50 support area.