GBPUSD Daily Forecast: May 16 2016
GBPUSD Forecast
The GBPUSD was indecisive last week but overall still able to maintain its bearish bias since the false break above the daily EMA 200 as you can see on my daily chart below. The bias is bearish in nearest term testing 1.4270/50 region. Immediate resistance is seen around 1.4400. A clear break above that area could lead price to neutral zone in nearest term testing 1.4450 area but overall I still prefer a bearish scenario at this phase targeting 1.4000.
