GBPUSD Forecast
The GBPUSD attempted to push higher yesterday topped at 1.3362 but whipsawed to the downside and closed lower at 1.3256. As you can see on my H4 chart below, price rejected above EMA 200 but 1.3200 support area still holds so far. The bias is neutral in nearest term. Immediate resistance is seen around 1.3275. A clear break above that area could trigger further bullish pressure retesting the EMA 200 (1.3315) which need to be clearly broken to the upside to resume the bullish phase targeting 1.3400 region. On the downside, a clear break back below 1.3200 would invalidate the bullish phase testing 1.3100 – 1.3000 region.

FX Instructor Forex Blog – For Traders, By Traders

Leave a Reply