GBPUSD Daily Forecast: August 05

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.