GBPUSD Daily Forecast: May 12 2016
The GBPUSD had another indecisive movement yesterday formed a Doji on daily chart. The bias is neutral in nearest term but overall I still prefer a bearish scenario at this phase after the false break above the daily EMA 200 as you can see on my daily chart below. Immediate resistance is seen around 1.4500 followed by 1.4550. Immediate support is seen around 1.4400 followed by 1.4350.