GBPUSD Daily Forecast: May 06 2016
GBPUSD Forecast
The GBPUSD was indecisive yesterday but overall still able to maintain its bearish bias since the false breakout above the daily EMA 200 as you can see on my daily chart below. The bias is bearish in nearest term testing 1.4400 – 1.4350 region. Immediate resistance is seen around 1.4530. A clear break above that area could lead price to neutral zone in nearest term testing 1.4600 region but key resistance remains around the daily EMA 200 located around 1.4750.
