GBPUSD Daily Forecast: February 16

The GBPUSD had a bearish momentum yesterday bottomed at 1.4413. The bias is bearish in nearest term testing 1.4350 which is a good place to buy with a tight stop loss targeting 1.4700. Immediate resistance is seen around 1.4475. A clear break above that area could lead price to neutral zone in nearest term testing 1.4530 region. On the downside, key support is seen around the trend line support as you can see on my H1 chart below located around 1.4280 – 1.4300 area. A clear break below that area would activate my bearish mode retesting 1.4080.