GBPUSD Daily Forecast: March 03 2016

The GBPUSD had a bullish momentum yesterday and now struggling around 1.4080 key resistance as you can see on my daily chart below. 1.4080 area is a good place to sell with a tight stop loss as a clear break and consistent movement/daily close above 1.4080 would be a threat to the bearish scenario targeting 1.4200 – 1.4300 region. Immediate support is seen around 1.4050. A clear break below that area could lead price to neutral zone in nearest term testing 1.4000 and give the bearish scenario another chance. Fundamental focus will be on the US NFP tomorrow.