GBPUSD Forecast
The GBPUSD attempted to push lower yesterday bottomed at 1.4079 but whipsawed to the upside and closed higher at 1.4219. The bias is bullish in nearest term but 1.4235/50 area remains a good place to sell with a tight stop loss above the H1 EMA 200 located around 1.4300 region as you can see on my H1 chart below. Immediate support is seen around 1.4170. A clear break below that area could lead price to neutral zone in nearest term testing 1.4100 area. Overall I remain bearish but a clear break and daily/weekly close above the H1 EMA 200 could interrupt the bearish outlook and trigger further bullish correction next week testing 1.4400 – 1.4500 region.
