GBPUSD Daily Forecast: May 02 2016

GBPUSD Daily Forecast: May 02 2016

2 May 2016, 06:32
Roberto Jacobs
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GBPUSD Daily Forecast: May 02 2016

GBPUSD Forecast
The GBPUSD continued its bullish momentum last week topped at 1.4670. The bias is bullish in nearest term but as you can see on my daily chart below, we have a Doji after price touched 1.4670 resistance suggests a potential bearish pullback. Immediate support is seen around 1.4550. A clear break below that area could lead price to neutral zone in nearest term testing 1.4500 region. On the upside, clear break and daily close above 1.4670 could trigger further bullish pressure testing daily EMA 200 located around 1.4750.

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