GBPUSD Forecast
The GBPUSD surprisingly had a strong bullish momentum yesterday topped at 1.5527. The bias is bullish in nearest term testing 1.5600. However, from a daily chart perspective, we have an important resistance around 1.5530, a daily EMA 200. So although the nearest term bias is bullish, selling around 1.5530 with a tight stop loss is not a bad idea. Immediate support is seen around 1.5470/50. A clear break below that area could lead price to neutral zone in nearest term testing 1.5400 area. Fundamental focus will be on the FOMC statement/press conference which is expected to be a market catalyst.
