GBPUSD Forecast
The GBPUSD continued its bullish momentum yesterday topped at 1.5338. The bias is bullish in nearest term. As you can see on my H4 chart below price is testing the H4 EMA 200 suggests a critical point. As long as the EMA 200 holds, it is too early to say the the bearish scenario is over. In fact, now is a good time to sell considering a good risk-reward ratio: a tight stop loss above the EMA 200 with nearest target seen around 1.5090. On the upside, a clear break above the EMA 200 would activate my wait and see mode with bullish intraday bias testing 1.5470 – 1.5500 area. All eyes will be on the FOMC meeting.
