GBPUSD Daily Forecast: March 14

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

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