GBPUSD Daily Forecast: May 09 2016
GBPUSD Forecast
The GBPUSD attempted to push higher last week slipped above the daily EMA 200 as you can see on my daily chart below but whipsawed to the downside and closed lower at 1.4425. My major technical outlook remains neutral but the rejection to move above the daily EMA 200 suggests a potential bearish scenario this week. The bias is bearish in nearest term testing 1.4350 – 1.4300 area. Immediate resistance is seen around 1.4470. A clear break above that area could lead price to neutral zone in nearest term testing 1.4540 region.
