23 Februari 2016 2:33 AM
GBPUSD Forecast
The GBPUSD had a bearish momentum yesterday, slipped below 1.4080 as you can see on my daily chart below bottomed at 1.4057 (note: February 2009 low is at 1.4052) but closed higher at 1.4148. The bias is bearish in nearest term. From a daily chart perspective, price has been moving sideways without clear direction and now price is moving near an important support which is a good place to buy with a tight stop loss as a clear break and consistent movement below 1.4080 could trigger further bearish pressure testing 1.3800 region. Immediate resistance is seen around 1.4180. A clear break above that area could lead price to neutral zone in nearest term testing 1.4235 or higher as a rejection to move below a major support could trigger a strong and long bullish run.
