Forex Trading GBP USD Forecast

Forex Trading GBP USD Forecast. As the GBP/USD try to push higher yesterday, and topped at 1.6275 but the trend line is a very good trading indicator when we talk about resistance and the price close at 1.6136 after touching the trend line. We can se on daily chart that price is moving around the trend line.

For the moment this forex pair has moved in no clear direction in the last days. The trading range vas between 1.6270-1.6070. We believe that forex trading around this pair will go in a bearish movement but we need to see a clear break below at 1.6040. The next bearish movement targeting 1.5800. We consider that 1.6270 is a very good resistance for this moment.

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Sourche : http://www.7forextrading.com/2010/01/29/forex-trading-gbp-usd-forecast/