GBPUSD Daily Forecast: February 29 2016

The GBPUSD had a significant bearish momentum last week, broke below 1.4080 key support and hit 1.3841 earlier today. The bias is bearish in nearest term testing 1.3800 – 1.3750 region. Immediate resistance is seen around 1.3915. A clear break above that area could lead price to neutral zone in nearest term testing 1.4000 area but as long as stays below 1.4080 I prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell.