GBPUSD Forecast

The GBPUSD failed to continue its bearish momentum yesterday, topped at 1.2847. The bias is bullish in nearest term testing 1.2875 resistance area which remains a good place to sell with a tight stop loss as a clear break and daily close above that area would expose 1.3000 region. Immediate support is seen around 1.2795. A clear break below that area could lead price to neutral zone in nearest term testing 1.2750 region but key support remains at 1.2700 – 1.2660 area which remains a good place to buy with a tight stop loss as a clear break and daily close below 1.2660 would resume the major bearish trend targeting 1.2500 region.

gbpusddaily

FX Instructor Forex Blog – For Traders, By Traders

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.