GBPUSD Forecast: Traded Back Above 1.3000, Bears are Losing Control
GBPUSD Forecast: Traded Back Above 1.3000, Bears are Losing Control
The GBPUSD had a significant upside momentum yesterday, closed back above 1.3000 key level after bounced-off 1.2900 support area last week as you can see on my daily chart below. This fact neutralizes the bearish bias since dropped from 1.3365 area last month. Technically, immediate and crucial resistance in focus at this phase lies at the daily EMA 200 located around 1.3050 with a breakout to target 1.3210 region even a retest of 1.3365. Conversely, on the downside, a movement back below 1.3000 would give a second chance to the bearish scenario to clear 1.2900. In the case of a break below 1.2900, further downside objectives seen at 1.2800, 1.2670 and finally 1.2485.
Source: https://fxinstructor.com/blog/gbpusd-forecast-traded-back-above-1-3000-bears-are-losing-control
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