GBPUSD Daily Forecast: May 13 2016
The GBPUSD had another indecisive movement yesterday. Price attempted to push higher topped at 1.4530 but whipsawed to the downside and closed lower at 1.4447. The bias remains 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 with nearest target seen around 1.4350 – 1.4300. Immediate resistance is seen around 1.4475 followed by 1.4530.