Tuesday, May 5, 2015

gbp/usd market u turn marking candle and go uptrend.

The GBPUSD was indecisive yesterday but overall still able to maintain its sell intraday bias since fell from 1.5491 point. As you can see on my hourly chart below, price slipped below the buy channel, threatening the buy scenario. The bias is sell in nearest term testing 1.5050 – 1.5000 point. Immediate resistance is seen around 1.5185 point. A clear break above that area could lead price to neutral zone in nearest term but would keep the bullish scenario alive and kicking testing 1.5250 point.

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