GBPUSD Daily Forecast: May 03

The GBPUSD didn’t make significant movement yesterday but overall still able to maintain the bearish correction bias after topped at 1.6300 on Monday. As long as stays below 1.6250 further bearish pullback is still potential especially if price make a clear break below 1.6150 testing 1.6100 – 1.6000 support area. On the upside, we need a clear break and daily close above 1.6250 – 1.6300 to continue the bullish scenario testing 1.6350 – 1.6470 region.

©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.