Wednesday, September 14, 2011

GBP/USD - Daily Forex Analysis - September 14, 2011

The GBPUSD hit 1.5752 earlier today in Asia.

The forecast is bearish in the near term, possibly testing 1.5650. Immediate resistance is seen at 1.5779 followed by 1.5830. 
A clear break back above 1.5830 would lead the market to a possible neutral zone in the near term as direction would become unclear possibly retesting 1.5910 but overall my technical outlook remains bearish.


Posted by David Frank, Avafx