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GBPUSD Daily Forecast: November 23

GBPUSD Daily Forecast: November 23
Friday, November 23rd, 2012 @ 7:02 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 bullish momentum was stopped yesterday. The bias is neutral in nearest term. Immediate support is seen around 1.5920/00. A clear break below that area could trigger further bearish pressure testing 1.5850. On the upside, key intraday resistance is seen around 1.6000. A clear break and daily/weekly close above that area could trigger further bullish pullback but as long as stays below the trend line resistance I still prefer to sell on rallies.

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