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GBPUSD Daily Forecast: Feburary 11

GBPUSD Daily Forecast: Feburary 11
Monday, February 11th, 2013 @ 10:14 am by Setyo Wibowo

About Setyo Wibowo:

Setyo Wibowo Living in East Java, Indonesia and holding International Relations degree, Setyo Wibowo began his forex trading career by joining Fortune Channel Investment in 2000 as a market analyst, while learning to trade forex independently on his own. Driven by his desire to share his trading experiences and ideas, Setyo joined the FX Instructor team in 2008. Setyo Wibowo is now living in Mojokerto, East Java, Indonesia.

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GBPUSD Forecast
The GBPUSD continued its bullish momentum on Friday slipped above 1.5800 but whipsawed to the downside earlier today hit 1.5702. The bias is bearish in nearest term testing 1.5650/00. Immediate resistance is seen around 1.5750. A clear break above that area could lead price to neutral zone in nearest term testing 1.5800 or higher. Overall I still prefer a bearish outlook as a part of the false breakout bearish scenario.

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