GBPUSD Forecast
The GBPUSD had a strong bearish momentum yesterday bottomed at 1.3102. The bias is bearish in nearest term testing 1.3100 – 1.3050 key support, which is a good place to buy with a tight stop loss as  a clear break and daily/weekly close below that area could trigger further bearish scenario next week targeting 1.2850 region. Immediate resistance is seen around  1.3180. A clear break above that area could lead price to neutral zone in nearest term testing 1.1.3220 or higher. Overall I remain bearish.

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About The Forex Analyst

William K. Gilday is a professional Forex expert working full time for FX Instructor educational portal. William is a Forex Trader from 2006 when he started trading part-time. In 2008 he retired from a fantastic 27 year career in Fire Rescue and moved to Thailand, where he fully dedicated himself to trading. He is an analyst at FXinstructor.com

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One thought on “GBPUSD Daily Forecast: August 05”

  1. Maryna says:
    August 8, 2016 at 1:20 am

    Hi William, I’ve been a bear on GBP for a year now and will wait to see if 1.30500 support breaks as this seems to be the only thing stopping the pair from going lower at the moment. If it breaks below a sell towards 1.2790 (Post-Brexit low) and then to 1.2500 from 1984.

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