6th November 2015
The GBPUSD had a bearish momentum yesterday bottomed at 1.5359. The bias is bearish in nearest term especially if price able to make a clear break and consistent movement below the H4 EMA 200 located around 1.5370 targeting 1.5300 or lower. Immediate resistance is seen around 1.5400. A clear break above that area could lead price to neutral zone in nearest term but key resistance remains around 1.5505 area which remains a good place to sell with a tight stop loss. We will have some high impact news from the UK today: BOE inflation report, MPC official bank rate votes and monetary policy summary.