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GBPUSD Daily Forecast: January 30

GBPUSD Daily Forecast: January 30
Monday, January 30th, 2012 @ 7:06 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 last week, closed above 1.5700. As you can see on my daily chart below price seems comfortable moving above the trend line resistance, aiming for 1.5780 key resistance area which need to be clearly broken to the upside to continue the bullish scenario since the rejection to move below 1.5270 two weeks ago, testing 1.6000 region this week. Immediate support is seen around 1.5650 followed by 1.5600. I do not expect any movement and daily close below 1.5600 as it would postpone the bullish scenario.

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