GBPUSD Forecast
The GBPUSD continued its bullish momentum yesterday topped at 1.3993. Price slipped above the bearish channel as you can see on my daily chart below which is a serious threat to the bearish correction phase. The bias is bullish in nearest term especially if price able to make a clear break above 1.4000 testing 1.4070 – 1.4100 region. Immediate support is seen around 1.3930. A clear break below that area could lead price to neutral zone in nearest term testing 1.3875 area and give the bearish correction phase another chance. On the upside, a clear break and daily close above 1.4070 – 1.4100 would retest 1.4275 key resistance. Overall I remain bullish.

Bearish channel violation: forex trading

FX Instructor Forex Blog – For Traders, By Traders

Leave a Reply