GBPUSD Daily Forecast: April 19

GBPUSD Forecast
The GBPUSD surged higher to 1.2903 yesterday and closed at 1.2841, just above the daily EMA 200 (1.2780) as you can see on my daily chart above. From a daily chart perspective, the movement above the daily EMA 200 following a double bottom formation at 1.2000 psychological level suggests a valid bullish scenario. The bias is bullish in nearest term testing 1.3000 – 1.3050 area. Immediate support is seen around 1.2780. A clear break and daily close back below that area would interrupt the bullish scenario and reactivate my neutral mode.