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GBPUSD Daily Forecast: February 13

GBPUSD Daily Forecast: February 13
Wednesday, February 13th, 2013 @ 8:34 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 attempted to push lower yesterday bottomed at 1.5571 but whipsawed to the upside and closed higher at 1.5674, formed a hammer formation on daily chart. The bias is neutral in nearest term. I still prefer a bearish outlook as a part of the false breakout bearish scenario but the hammer formation gave a potential upside pullback warning especially if price able to make a clear break and daily close above 1.5700 retesting 1.5800. On the downside, we need a clear break below 1.5571 to keep the bearish scenario remains strong testing 1.5500 or lower.

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